The advertising budgets of many US companies are being migrated away from traditional channels and into internet marketing, according to new research from Forrester.
In an official blog post, principal analyst Shar VanBoskirk said marketer spend on display media, search, email and mobile and social media the US is set to reach almost $55 billion (£36 billion) by 2014.
She explained that much of this growth will come at the expense of traditional forms of advertising, with 60 per cent of firms planning to reduce spending in other areas to boost interactive marketing budgets.
The research shows that direct mail and print advertising are seeing the biggest reductions in spending as firms look to spend more on the web.
Forrester’s findings mirror the results of a recent survey by the European Interactive Advertising Association, which shows that companies in Europe are also diverting funds away from traditional media to fund internet marketing.