You've Got Mail, But Too Few Ads

AOL is counting on a redesigned Web site -- with increased offerings for nonsubscribers -- to propel it back to the top tier

In the past two years, advertising on the Internet has taken off. But one online giant has been conspicuously missing from the party. With 23.4 million U.S. subscribers, America Online (TWX ) should have raked in fistfuls of ad dollars along with Yahoo! (YHOO ), MSN (MSFT ), and Google (GOOG ). After all, the leading subscription service beats its top rivals in time spent online per visitor -- 401 minutes a month.

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