The Internet will receive a greater share of global advertising spending this year than do outdoor outlets such as billboards, and it is set to overtake radio soon, according to new data released on Monday.
ZenithOptimedia, a media planning and buying firm, said the growth is being driven by smaller brands, which are turning to the Internet because it is relatively cheap and can target their markets effectively.
It forecast that Internet ad expenditure would grow 84 percent between 2005 and 2008 to $34.2 billion, an upgrade from the 76 percent it predicted three months ago.
ZenithOptimedia said the Internet would account for 12.9 percent of total ad expenditure in the UK and 10.5 percent in Sweden, the first time Internet advertising has a double-digit share anywhere in the world.
The company said it expected the spending share gap between the Internet and radio to narrow from 3.9 percentage points in 2005 to 0.7 in 2008.
