Online advertising revenue has surpassed that of television in China for the first time, according to local reports.

Revenues, which include all online advertising and not just that around online video, hit a historic high of RMB150 billion (US$24 billion), while TV advertising reached RMB120 billon ($19 billion) in 2014.

At the same time, advertising revenue on the traditional publication side dropped over 20%, and is predicted to decline further in 2015.

The reports note that China’s overall media industry GDP topped RMB1 trillion for the first time in 2014 reaching RMB1.14 trillion ($186 billion), a growth of 16% over the previous year.