GroupM now forecasts that the U.K. will likely pass that mark by the end of 2008 when the Internet will account for 24.8% of British ad spending, just behind a projected 26.0% hare for television.
The forecast assumes Internet ad spending in the U.K. will grow 30.8% during 2008 to $6.7 billion vs. a 1.0% rate of growth for television, which will climb to about $7.0 billion. The GroupM analysis assumes online ad spending would need to climb 6% or more during 2009 to overtake the market's television advertising volume.
Last month, GroupM issued a report predicting that the Internet would reach a double-digit share of worldwide ad spending for the first time in 2008. The report estimated that search would comprise between 65% and 70% of measured online ad spending in 2008, up from 50% in 2005.