The UK still leads the world in the shift of advertising to the web.
This is from the Ofcom UK Communications Market Review 2008:
The success of the internet remains a particularly UK-focused phenomenon; accounting for a higher proportion (18.9%) of total 2007 advertising spend than in the USA, France, Germany or Italy for example. Paid-for search makes up the majority of UK internet advertising revenue, accounting for £1.6bn of the total £2.8bn. However, ‘other classified’ advertising was the fastest growing component in 2007, up 54% to £0.6bn.
Moreover – the CAGR for internet advertising over the last five years is 70.2%, and at £2.8bn was larger than the combined net ad revenues of ITV1, Channel 4, S4C and Five (£2.4bn).