The timing rather than the event is the surprise. For some years, it has looked certain that one day the internet would overtake television to become Britain’s largest advertising medium. A study this week says that moment has come.

A report by PwC for the Internet Advertising Bureau shows online advertising rose to 23.5 per cent of the total market in the first half of this year, while TV was on 21.9 per cent. Although advocates for commercial broadcasting protest that the two figures are not directly comparable, since online marketing covers a wider range of activity than broadcast adverts, it is hard to argue against the trend.