Internet search is expected to contribute up to three quarters of all UK advertising revenue growth this year, while traditional media stagnates. WPP's GroupM predicts that advertising will grow by 6 per cent in 2008, but without the contribution from Google and other search engines, the rate of improvement across other media would be only 1.5 per cent.
Internet advertising will also come close to overtaking television advertising in 2008, emphasising how fast the new medium has become a mainstream means of promotion. This year Internet spending is predicted to hit £3.4 billion, (E4.9bn) up from £2.6 billion in 2007, on GroupM's estimates. GroupM predicts television revenues of £3.57 billion, up 0.9 per cent, although Zenith-Optimedia, its rival, is forecasting growth of 2.2 per cent