Written by: Roshan Dwivedi
According to a new IHS Markit study, online advertising will completely replace TV advertising as the number one global advertising medium by 2020. The study stated, while the TV market still benefits from big brand budgets, online is set to take pole position within the next five years.
“In some countries such as the UK, online already accounts for almost 50% of total advertising revenue and will only keep getting stronger”, stated the report. According to IHS Markit estimates, global ad revenues grew 7.1% in 2016 to US$532 billion with TV as the top performer, accounting for US$192 billion (36%) of the global revenue.