This week, two interesting data points about the growth rates of online advertising revenue were released. According to Nielsen, online ad spending across the entire web grew 49% in the first 6 months of 2006. During the same period, ad spending on daily newspaper web sites grew only 33%. So while newspapers are celebrating the growth in their online revenue, as well they should given the decline in ad revenue reported on the print side of their business for the same period, that growth needs to be put into the context of what is happening elsewhere on the web. Newspapers are failing to capture their share of the ad revenue migrating to the web.