A new study from financial research firm Morningstar finds that more than 60% of all online advertising revenue is generated from banner ads, and the most prominent players in the space are now pulling in the bulk of that revenue.

The company surveyed 1,100 U.S. online publishers to find out which of them are earning more money from their banners.

The results are staggering.

The top five banner advertisers earned $2.7 billion from banner ad revenue last year, according to Morningstar.

The largest banner advertisers on the market accounted for $1.3 billion.

The study also found that banner advertising has been a key driver of revenue growth for Google, Facebook, Twitter, Amazon, Yahoo, Microsoft, and eBay.

The top five advertisers earned more than $2 billion in advertising revenue last month.

These are the top five most lucrative advertisers.

The infographic above shows which companies make money from banners and why.