The Advertising Expenditure Forecasts from ZenithOptimedia predicts that mobile internet advertising will account for 12.4% of global adspend next year, while newspapers will account for 11.9%. This will put mobile as the third-largest advertising medium behind television and desktop internet.

This is based on the projection that mobile advertising will grow by 38% next year to US$71bn, while newspaper advertising will shrink by 4% to US$68bn. The report also reveals that the growth of mobile advertising remains the driving force behind the growth of the entire advertising market, with a contribution of 83% of all new ad dollars between 2014 and 2017.

“Mobile technology is rapidly transforming the way consumers across the world live their lives, and is disrupting business models across all industries,” said Steve King, CEO, Worldwide of ZenithOptimedia. “We are now witnessing the fastest transition of ad budgets in history as marketers and agencies scramble to catch up with consumers’ embrace of the mobile way of life.”