Advertisements are a key source of revenue for companies in the broadcasting and web industries. However, because of increasing competition, advertisers and web publishers have been forced to find innovative ways to increase their profits and gain competitive advantages. Revenue management is a useful operations research and management science tool that may be used to do so. In this paper, we provide an updated review of revenue-management research conducted in the broadcasting and online advertisement industries, highlighting the strategies and techniques adopted to maximize advertising revenue. We also identify mobile advertising as an emerging revenue-management application and review current research on it. We conclude by identifying potential gaps that future research might address.