Yahoo!'s chief executive has announced the search engine firm is set to benefit from a global boom in internet advertising.

Terry Semel told Investors.com that a number of new strategies the company has in place are set to help online marketers to target users with their products and services more efficiently than rivals Google and Windows Live.

He told the publication: "We believe we are in a unique position to take advantage of that growth."

Mr Semel attributed Yahoo!'s potential growth to paid search service Panama and an increasing amount of advertising sold for mobile phones and corporate websites.

Earlier this year, it was announced that the search engine company was looking into delivering multimedia search results for British users.

Under the move, search queries would return a mixture of text, video footage, still images and audio clips.