(REUTERS) — The amount of money spent on advertising on social media is set to catch up with newspaper ad revenues by 2020, a leading forecaster said on Monday.
The rapid expansion of social media platforms on mobile devices, as well as faster internet connectivity and more sophisticated technology, has triggered a huge shift in the way many people get their news.
Advertising agency Zenith Optimedia, owned by France's Publicis, predicts global advertising expenditure on social media will account for 20 percent of all internet advertising in 2019, hitting $50 billion and coming in just one percent smaller than newspaper ads. It expects social media to overtake newspapers comfortably by 2020.
Advertisement - story continues below