The Web will soon become the second-largest sector of advertising, moving in behind television and pushing print media into third place.
Newspapers have been struggling to make money for the last few years, as the Internet increasingly threatens their very existence. So it should come as no real surprise to learn that online advertising revenue looks like it’s about to pass print advertising revenue in the U.S.
According to the Wall Street Journal, a new report from PricewaterhouseCoopers (PwC) suggests the switch will occur over the next few months. In 2009, online ad revenues climbed to $24.2 billion, while print ad revenues settled at $24.8 billion, a drop of 28.6 percent.
The online sector is expected to keep on growing, hitting $34.4 billion by 2014. By which time, it’s anyone’s guess how low print media’s ad revenue will be. The newspapers which survive will be the ones who manage to evolve with the Web in mind, though I’m not sure Rupert Murdoch’s plans to charge for online access to his properties is really the way to go.