PwC Forecast: Internet Will Soon Be #2

In a write up of a media and advertising forecast being released by PriceWaterhouseCoopers, the WSJ says the report estimates that by 2014 the Internet will be the second largest US ad medium after TV. Accordingly it will be larger than newspapers:

The online ad business, excluding mobile ads, is set to expand to $34.4 billion in 2014 from $24.2 billion in 2009, according to the report, which PwC plans to release Tuesday.

Newspapers, meanwhile, continue to suffer from a decline in advertising revenue. According to numbers released by the Newspaper Association of America earlier this year, print advertising revenue dropped 28.6% in 2009 to $24.82 billion. The PwC report estimates that print advertising in newspapers will hit $22.3 billion by 2014.

PwC also predicts that mobile will grow from $414 million in 2009 to $1.6 billion in 2014.

At once this prediction is both unsurprising and shocking. And dare I say it: despite its targeting and tracking the Internet is a relatively bland, annoying and creatively ineffective ad medium. There are isolated exceptions to this, including paid search — which can be bland but has proven very effective.

So the Internet has replaced the “art” of traditional media advertising with the “science” of targeting. Maybe the world of mobile and tablets in particular can marry the two.

Here’s something that was brought to my attention along those lines: Ads on iPad Perform Six Times Better Than on Desktop.