It may seem negative to define the growth of a medium against the collapse of another, but here's why.

For most media organisations, online advertising* currently accounts for less than 20% of the advertising pie, with print still taking the lion's share. My 20% estimate is high. A world-wide, median figure is more like 15% of ad revenue.

The question is: why are advertisers still choosing a medium that is under severe pressure as opposed to competing media that deliver a better service and (mostly) bigger reader numbers?