The Internet is on the cusp of replacing newspapers as the second-largest U.S. advertising moneymaker -- behind television -- according to PricewaterhouseCoopers’ Global Entertainment and Media Outlook cited by the Wall Street Journal.
According to the report:
• The online ad business, excluding mobile ads, is set to expand to $34.4 billion in 2014 from $24.2 billion in 2009.
• Print advertising revenue dropped 28.6% in 2009 to $24.82 billion.
“Although the Internet did not fully escape the impact of the recession, its decline in the United States was much less severe than that of other advertising media,” the PwC report said.
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