Online advertising will account for more than half of global advertising expenditure by 2021, according to recent research from Zenith.

The report was based on global ad spend forecasts made by Zenith researchers for 2019 through 2021.

Internet advertising is forecast to account for 52% of global advertising expenditure in 2021, exceeding the 50% mark for the first time. That’s up from 47% of global ad spend in 2019 and 44% in 2018.

Among traditional channels, the share of global ad spend going toward newspapers, magazines, television, and radio is forecast to shrink between now and 2021. The share of spend going to out-of-home is expected to remain steady, and the share going to cinema is expected to increase slightly thanks to a boom in the popularity of films in China.

Total global ad spend is forecast to grow 4.6% this year, down from an increase of 6.4% in 2018.