If Free to Air television did not have enough problems with Pay TV taking market share and advertising revenues away from them they are hit by a new survey from Google showing that British Internet users spend more time on the Internet than watching TV!
The report showed British Internet users spend an average 164 minutes online daily – compared with an average of 148 minutes a day for TV.
I think this trend would be similar here in Australia.
This is why a growing amount of companies are increasing their advertising budgets online and why television, newspapers and radio is struggling to create any growth in revenues. This also explains why traditional media companies such as News Ltd, Fairfax and PBL are buying more and more online assets.
In my opinion I think traditional media companies think if they own all of the major websites in Australia and New Zealand then they can get back to controlling the advertising spend of big business.