Yahoo! Inc.'s new Project Panama advertising program is benefiting its biggest clients by displaying their links more prominently and charging them less for each ad click, according to a report.

Customers with recognizable brands paid 57 cents each time a user clicked on their Yahoo link in the past month, compared with 75 cents in the fourth quarter, Jordan Rohan, an analyst at RBC Capital Markets, said in the report. The popularity of the brands also ensured them better ad placement, he said. Rohan cited data from SearchIgnite, a maker of software that manages ad campaigns.

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