TV Network Admits defeat against Google
November 2, 2006
Google is poised to overtake Britain’s main TV channels in the race for advertising revenue, underlining the internet’s challenge to traditional media.
The internet search company’s advertising revenue in the UK is expected this year to surpass Channel 4’s anticipated 2006 take of £800m. Within 18 months, it is forecast to overtake ITV1, Britain’s leading commercial TV channel and the country’s biggest single recipient of advertising revenue.
Ad Agencies scramble to face the new reality on the ground, but since they missed the boat, they are either losing the deals or they are buying or outsourcing to new media agencies.
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