The head of the second-largest ad agency in the world, WPP Group, says broadcasters are under “severe pressure” from the Internet:
“Television broadcasters face â€œsevere pressureâ€ as advertisers abandon traditional media in favour of the internet, Sir Martin Sorrell, head of WPP, the worldâ€™s second-biggest advertising company, told The Times.
The chief executive said that the quickening pace at which advertisers are switching their budgets to online has created a â€œfundamental shiftâ€ in advertising that would change irreversibly the way in which broadcasters
such as ITV and Channel 4 make money.
Sir Martin said: â€œTelevision is under severe pressure at the moment from the internet. There has been a fundamental shift and the pace will quicken, but predictions of a depression in traditional media have gone too far. Television advertising is not going to disappear. It still has pulling power, but the balance will switch.â€