A report by the Internet Advertising Bureau (IAB) and and PricewaterhouseCoopers (PwC) forecasts that the web could catch up with and whizz past TV in a gloomy advertising environment.
In 2007, Internet advertising jumped 38 percent and should maintain this level of growth as the global economic woes convince companies and firms to invest online.
More than £2.8 billion was spent on internet advertising in 2007 securing in the process 15 percent of the overall market, that's a 4 percent rise over its 2006 performance.
As online advertising has been growing nine times faster than in other more traditional media, the IAB envisages that by the end of 2009, online ad spent will reach £4 billion.
Flexibility, Return on Investment, transparency and relatively low entry costs have been some reasons why online advertising is popular with big and small companies alike.
Faster, always on broadband connections, attention-grabbing websites like Social networks and the fact that computer penetration rates are at their all time high means that it is easier for advertisers and publishers to reach their audience.
In the recent years, online and offline media companies have been digging in their pockets to buy online advertising networks and firms.
Google purchased Doubleclick while Microsoft acquired aQuantive and Yahoo got hold of Blue Lithium.