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The newspaper business is undergoing rapid change and a PowerPoint presentation from the World Association of Newspapers (WAN), underscores 66 major media-related trends that are having an impact on all media—including newspapers. Aaron Wall at WebProNews does a nice job of summarizing these trends into a few key categories.
According to WPP’s media operation Group M, online advertising will overtake television advertising in the UK in 2009. They also predict this will happen in Sweden this year. The report makes no prediction on when, or if, Internet advertising might overtake television in the U.S.
Group M forecasts the following media growth globally in 2008:
Move over Second Life. Kid-focused virtual worlds such as Club Penguin, Webkinz, and a string of site start-ups loom as the new and hot Web playgrounds for 2008. 
According to a State of the Media Democracy 2007 study recently complete by Deloitte, user-generated content is in big demand on the Web. Over 50 percent of adults now report watching or reading online content created by other Web users including blogs and streaming video. Among Millennials (those ages 13 - 24), that figure rises to 71 percent.
In addition, the study states over 40 percent of all consumers are now creating online content (videos, photos, blogs, etc) for themselves or others. The study also said the traditional media such as TV, magazines and books remain “deeply engaging” to most consumers with 72 percent of respondents reporting they still read print magazines even if those magazines are available online.
At least once a year, its helpful to look at Mary Meeker’s excellent PowerPoint presentation on Technology and Internet Trends. Meeker is a managing director at Morgan Stanley and a leader of the investment bank’s global technology research team. The link above is her slide deck from the Future of Media conference presented last month in New York.
Meeker’s in-depth analysis is viewed from a global perspective, and it provides a great deal of insight into where technology and the Internet are headed. The presentation is filled with salient facts for business executives and marketing professionals, but a few I found particularly illuminating included: