Dominic DeGrazier 3:37 p.m., Sept. 21
Online Advertising Overtakes Newspapers, Cable TV
Online advertising expanded by 15% last year to $26 billion, according to the industry annual report prepared by accounting firm PricewaterhouseCoopers. In 2009, online advertising had dropped 3% because of the recession. The $26 billion passed newspapers, which came in at $22.5 billion, for the first time. In third place were cable TV networks at $22.5 billion, followed by broadcast TV at $17.6 billion and radio $15.3 billion. Industry analysts had thought it was only a matter of time before the web would pass newspapers.