• by Masha Geller , October 2, 2003

More than a third of the most desirable demographic cite the Internet as their single most important source of information on business. That's according to the latest installment of Forbes.com's ongoing study of C-level executives and their use of the Web.

Forbes.com, in association with research service GartnerG2, recently conducted a survey among more than 2,800 senior executives about their Web activity, and found that the Web is a pervasive presence in the lives of C-level executives (CEOs, CFOs, etc.): 38% of C-level respondents said the Web is their single most important source for information on business.

The next most prevalent source of information was daily newspapers by 26% of respondents. Among large company executives, the reliance on the Web is even greater with 51% naming the Web is their most important business information resource, followed by newspapers at 22%.

Jim Spanfeller, president and CEO, Forbes.com said the new data "supports a growing body of evidence that we've arrived at an inflection point in the media consumption patterns between online and offline media. We can now unequivocally point to the Web as a primary business information resource for today's business leaders."

C-level executive respondents also stated they are spending less time with other media, including newspapers, magazines, TV, radio and industry trade publications as a result of the time they spend online (not including email): 59% are spending less time with magazines, 50% say they are spending less time with newspapers, 48% less time with TV, 46% less time with radio and industry trade publications respectively.

26% of large firm respondents said they are knowledgeable about Wi-Fi technology and they are reporting some current usage of the technology. By year-end 2005, 57% are planning to implement Wi-Fi technologies.

In addition to asking senior executives about their Web activity, the survey explored their thoughts on the strategic importance of IT, including the linkage between IT usage and business performance. GartnerG2's analysis focused on the results from the executive management of 408 large firms with over 1000 employees.