The latest issue of Fortune Magazine has a couple interesting articles that explore the relatively recent and very significant shifts in Web culture that have impacted the ad world.

There's a short-but-sweet article about viral marketing ("Viral Ads: It's an Epidemic" by Devin Leonard) that looks at the phenomenal success of user-generated content (UGC) sites like YouTube and MySpace, where consumer whims can dictate a runaway success or dismal failure, and how these sites have changed the approach advertisers need to take when marketing to today's net-savvy consumers.

The cover story ("Chaos by Design" by Adam Lashinsky) looks at the seemingly crazy way Google runs its business, and how everyone is waiting for their next "killer app" to emerge. Obviously the company struck gold with its AdWords and AdSense model, but can it repeat that success? Recent forays (ie. acquisitions) of companies in the radio sector (dMarc Broadcasting, purchased in January) and most recently online video sphere (see previous posting about the YouTube deal) indicate that Google is looking to broaden its penetration and advertising reach across the entire spectrum of media.

One thing is certain - advertisers have a great opportunity to profit from these developments. The only catch is, they have a few new rules to learn.