Digital to overtake newspapers in terms of ad spend this year

Spend on online advertising will overtake newspapers to become the second-largest ad medium globally this year, according to the latest forecast by Carat.The ad agency has moved the crossing point forward from 2013 to this year, as newspaper revenues decline and brands put more money into digital formats such as search, display, social media and mobile. Carat now expects online advertising to grow by 17.9% this year and 16.4% in 2013, giving it a 15.3% share of global ad spend in 2012 and 16.9% the following year. At the same time newspaper revenues will fall 2.8% in 2012 and 1.7% next year, causing its share of the market to drop to 14.4% this year and then to 9.1%.