Although TV remains the first choice of medium for advertisers, the online platform is seen to be growing even faster as Magna Global, a unit of the Interpublic Group of Companies, predicts it easing its way in the next three years to the number two spot, taking over newspaper advertising.

Magna Global, says that television takes 40 percent of the advertising market with yearly gains of 7.5 percent through 2016.

Changing its earlier forecast of 4.3 percent, Magna now sees worldwide online advertising revenue reaching 5.4 percent to US$412 billion in 2011 with increased spending in China, India and Argentina.

Threatened but still a marketing option, newspaper advertising will register moderate growth of around 1.7 percent in the next five years.