In a relatively short time, online advertising is set to overtake US newspaper advertising says an annual research report on the media sector by Veronis Suhler Stevenson (VSS), cited by Financial Times.
At the projected rate of growth for Internet advertising of 21 percent yearly, it should reach about $62 billion by 2011. On the other hand, newspaper advertising is projected to reach $60 billion at the same time.
In other parts of the world the change is already happening, as in Sweden and the UK, online advertising is expected to surpass newspaper advertising sometime this year.
“The path of online advertising and newspaper advertising is a continuation of what we’ve been observing for many years, but it is finally getting to the point where the lines will cross,” said James Rutherfurd, managing director at VSS.
Time spent on the two mediums are also shifting as this year it's expected for the first time people will spend more time on the Internet than reading newspapers.
The largest share of advertising will still belong to the combined television industry of broadcast, cable and satellite, as they're expected to reach $86 billion in 2011.
It's only a matter of time before the Internet will be the premiere advertising medium across the world.
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