Study shows growing internet share.

Radio’s declines have been significant, but it continues to receive more than 7% of the advertising market dollars.  Yet in just eight years the internet has bypassed radio to take twice as big a slice.  WPP’s GroupM estimates web-based advertising revenues will jump from 15.4% this year to 17% next year to $24.4 billion in digital advertising.

The hike is being sparked by ad spending increases in search, video and mobile and a “sharp” decline in traditional media like newspaper and radio.  Website display ads will actually lose ground as advertisers look for new opportunities, particularly in social networking.

As marketers move beyond search, GroupM Interaction CEO Rob Norman says the focus on creating and capturing intent expressed in social media and micro-blogging sites has increased significantly.

The report finds Americans accessing news on their mobile devices daily has more than doubled to 22 million and those accessing a social networking site have increased fourfold to nine million compared to just a year ago.  GroupM calls this a “generally desirable” target audience for marketers.  “If one uses consumer behavior as a gauge of a medium’s potential, there appears to be good news in mobile’s future,” says the report. Mobile advertising’s share of global ad spending is predicted to reach 6% of the total.