This year Facebook and Google’s advertising revenue is forecast to exceed TV ad spend for the first time, according to figures from WARC.
TV advertising spend is set to reach $192.6 billion in 2020, whereas the tech duopoly is expected to reach $231.9 billion in ad revenue.
TV ad spend is set to rise 2.5 per cent to hit 29.2 per cent of all global spend, driven by growth in the US where $4 billion will be spent on presidential campaigns.
Global advertising spend is set to rise 7.1 per cent to $600 billion, thanks to 13.2 per cent growth in online campaigns. Combined, Facebook and Alphabet are expected to take 35 cents in every ad dollar.
WARC managing editor James McDonald said: “Internet ad growth has been far stronger than the state of the global economy would suggest, rising seven times faster on average since 2015.
“But, regulation aside, online platforms are bound by the law of large numbers, and revenue growth is easing for key players like Alphabet and Facebook.”
WARC also noted that TV growth could be hit if events such as the Olympics and Euro 2020 were affected by the coronavirus.