Television's decades-long dominance of advertising is poised to give way to the Internet within seven years, according to PricewaterhouseCoopers' new Entertainment and Media Outlook report that predicts revenue through 2018, according to The Hollywood Reporter.
PwC's 15th annual report, released June 4, reveals that TV advertising will generate $173.7 billion worldwide in 2014 and grow to $214.7 billion in 2018. During the same period, Internet advertising will grow from $133 billion to $194.5 billion. PwC does not prognosticate beyond five years, but its research indicates a 5.5 percent compound annual growth rate for TV advertising compared with 10.7 percent for the Internet, suggesting the latter will pass the former as early as 2020 -- marking a sea change that will come about fairly quickly.
As recently as 2010, revenue from TV advertising was more than twice that from Web ads.
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