The Internet is set to become the second largest advertising medium in the U.K., according to a report in Blighty’s Financial Times.
The news, based on forecasts by GroupM, a WPP Group holding company, sees the Net overtaking national newspapers in terms of ad dollars spent reaching auds.
According to GroupM’s figures, the Net will account for 13.3% of the total media advertising market, compared with 13.2% for national newspapers. TV still dominates the market, accounting for 28.8% of ad spend.
Though the gap between the Web and newspapers is small, the report estimates it will grow further.
A forecast 39% rise in new ad spending contrasts sharply with a 9% decline in newspaper spend. GroupM predicts that by end of 2007, ad spend in newspapers will have dropped to two-thirds of its level in 2000.
Cinemas, however, continue to lag far behind both mediums, accounting for only 1.4% of total media advertising.