On the upside, 2008 will be remembered as the year two political ad guys -- David Axelrod and Jim Margolis -- helped the junior senator from Illinois become the first African-American to be elected to the presidency of the United States. The campaign ran on enthusiasm and passion -- and also on record sums of money raised via the Internet, using the most sophisticated online outreach in the brief history of online politics.

It was a year of new media. Social networking emerged as a mainstream force, even if it still faces the difficult challenge of monetization. At ad shops around the U.S and indeed around the world, digital specialists are being integrated into traditional creative and media teams. Creatives everywhere are stepping up to the challenge of designing commercials to arrest the attention of impatient, ad-skipping DVR users.

This AAAA SmartBrief special year-end report wraps up a busy year in the interactive media and advertising space. Part I highlights the most important trends, stories and events of 2008. Part II, which will hit your inbox Thursday, will provide a glimpse into what's in store for 2009.