NEW YORK (TheStreet) -- AOL's (AOL) big bet on programmatic advertising is paying off. The company's second-quarter earnings report, released Wednesday, was further proof of the division's critical importance to AOL's future growth.

Over the quarter, the Internet media company posted its sixth consecutive quarter of top-line and operating income growth, driven by a pick-up in video and programmatic advertising sales to rival Google  (GOOGL) and Yahoo!'s (YHOO) separate digital ads solutions.

Over the three months ended in June, the New York-based company reported business in its programmatic division (that is, its platforms which facilitate automatic and real-time ad-buying) up 100% year over year, while the division grew to account for 35% of segment revenue, up from 5% a year earlier.

Read More: Time Warner Tumbles as Fox Withdraws Big With Investor Support

Global advertising revenue climbed 20%, in large part due to AOL's programmatic solutions as well as increased ad pricing and an uptick in video advertising.

"It's one of the largest industry shifts in the last 20 years," said CEO Tim Armstrong on a post-earnings conference call. "Advertisers aren't saying they want to spend less, they want better ROI, and better targeting. And we've done an exceptional job [providing that]."

Chief Financial Officer Karen Dykstra added that the company has succeeded through identifying underlying strength in video and programmatic advertising, allocating increased investment to expand its footprint in recent years. "We're investing with discipline in our products, people and technology," she said on the call.

If you liked this article you might like

Twitter Is Too Valuable to Not Be Acquired by Disney

Cramer: I Want to See Lower Prices From the 5% Dividend Yield Gang

Yahoo! CEO Mayer Not Joining New Leadership Team Under Verizon

Here's Who Killed It in October Dealmaking Advice

Media Consolidation Could be on Menu as Moguls Descend on Sun Valley for Allen Conference