A significant advertising milestone has been attained in the US following publication of figures which show that total internet advertising revenues exceeded those from broadcast television for the first time last year.

The psychologically important figure was revealed by the Interactive Advertising Bureau based on data compiled by PricewaterhouseCoopers, which showed a surge in spending on mobile ads which hit $48.2bn in 2013 – a 17 per cent increase on 2012.

Every sector of internet advertising registered growth but most actually lost market share due to the sheer dominance of mobile.

Randall Rothenberg, CEO of IAB said: “The news that interactive has outperformed broadcast television should come as no surprise. It speaks to the power that digital screens have in reaching and engaging audiences."

TV advertising as a whole (including broadcast and cable) retains the lion’s share of spending however, raking in a combined $74.5bn.