TV remained the top medium for advertising globally in 2016, but online advertising will overtake it in the next five years, according to the Global Advertising Trends Reportfrom IHS Technology.

TV advertising accounted for $192 billion, or 36 percent, of global ad revenue. “Despite the incredible growth of online giants like Facebook, Google and Snapchat, the TV market continues to benefit from big brand budgets,” said Eleni Marouli, principal analyst, IHS Technology, and report author. .

“Quadrennial events such as the Olympics, the European Football Championship and the US elections helped keep TV on top.”

However, revenue from online advertising will overtake TV within the next five years. “In some countries such as the UK, online already accounts for almost 50 percent of total advertising revenue and will only keep getting stronger” Marouli said.

In 2016, online advertising will account for almost $160 billion, or 30 percent of global revenue. Print advertising sits in third with $101 billion, followed by radio with 8.4 percent of the market and $47 billion in revenue.

In the US, TV advertising revenue will make up roughly 38 percent of the country’s total; online is just behind with 36 percent.