Online advertising spending is set to grow 25 per cent worldwide in 2006 says a report from Carat, quoted by the AOP.

Internet advertising will continue its rapid ascent in 2006 and help prop up growth in the ad market as a whole, according to a new report from Carat International.

The Aegis-owned network said in its latest “Global Market Update” that the online medium will grow 25 per cent year-on-year worldwide, and will overtake the amount of ad revenue generated by newspapers in the US by 2008.

In the UK, it overtook outdoor advertising in 2005 and is likely to outstrip magazines this year. For early adopters like Sweden and South Korea, the internet is forecast to become the third biggest advertising medium this year, after television and newspapers.