The Web overtakes TV to become biggest advertising sector in UK

The UK has become the first major economy where advertisers spend more on internet advertising than on television advertising, with a record £1.75bn online spend in the first six months of the year according to the Guardian.  The paper notes that this change marks a watershed for the embattled TV industry, the leading ad medium in the UK for almost half a century (or perhaps a waterloo). It has taken the internet little more than a decade to become the biggest advertising sector in the UK.

It is somewhat ironic to read this in another embattled media that is being challenged by the Web (see for example, Who killed the Rocky Mountain News? John Temple at WebCom 2009).  The Guardina reports that the Web now accounts for 23.5% of all advertising money spent in the UK, while TV ad spend accounts for 21.9% of marketing budgets. I wonder what percentage traditional print newspapers account for.  Also, it would be interesting to see what portion of the Web advertising comes from online versions of newspapers.

Newspapers are starting to participate more in Web ad revenues as a way to stay in business. TV could do the same with online services such as the type of TV schedule search that TVIssimo offers. It can be very targeted to local areas and specialized interests based on what people search for.