As the Internet goes mainstream and customers spend more and more time online, marketing dollars continue to migrate to digital channels. This trend is not new and from the earliest days of the commercial Internet, unsophisticated banner ads and then search advertising gained traction and turned into large markets. Over time, Internet Advertising began to cannibalize offline marketing spend in areas such as print, radio, TV and other mediums, although offline marketing continues to dominate the marketing budget and digital channels make up well less than 50% of marketing and advertising spend.
As we look forward, we see a landscape that will ultimately drive digital marketing to be the primary channel, indeed in some countries in Europe and Asia, this is already the case where various