Newspapers lose more ad revenue to new media

Online ad spending in the US rose by 17.8% in 2006, according to a study by Wachovia Equity Research. Its poll of 100 leading national advertisers measured the migration of ad revenue from traditional media to the web, discovering that TV has managed to reverse the drift towards new media while newspapers continue to lose out. But Wachovia estimates that online advertising would need to grow 15% a year for a decade to reach the $35bn (£17.2bn) now spent on newspapers. (Via Paid Content)