The World: New York - Internet advertising overtakes cable TV spends

Spending on internet advertising in the US has surpassed the amount spent on cable TV, according to figures compiled by the US Interactive Advertising Bureau.

Internet adspend last year was $21.2 billion, a rise of 26 per cent on 2006.

The level exceeds spending on outdoor, magazines, radio and now cable TV, which accounted for around $20.9 billion in 2007.

The IAB has tracked four consecutive years of strong revenue growth for the industry following the dotcom collapse.

However, growth has begun to slow, and in 2006, the IAB reported a 36 per cent revenue rise.