Surely part of the reason that this is the case is that online ad impressions are a fraction of the price of traditional media.
You can "reach" thousands of people for less than $200 online, whereas conventional advertising is substantially more expensive.
This has to be one of the underappreciated reasons that traditional media has been savaged so badly by the internet - the price difference is stark, especially on a CPM level. But that price difference is also jacked up by massive fraud everwhere - for example Facebook has told advertisers they have access to more people in the US, than live in the US.
That's not to say that traditional media is clean in how they measure their audience, but at least with a traditional ad you can turn on the TV and watch it, or pick up a newspaper and read it, or drive past it. How many digital ads never get seen by a human?
You can "reach" thousands of people for less than $200 online, whereas conventional advertising is substantially more expensive.
This has to be one of the underappreciated reasons that traditional media has been savaged so badly by the internet - the price difference is stark, especially on a CPM level. But that price difference is also jacked up by massive fraud everwhere - for example Facebook has told advertisers they have access to more people in the US, than live in the US.
That's not to say that traditional media is clean in how they measure their audience, but at least with a traditional ad you can turn on the TV and watch it, or pick up a newspaper and read it, or drive past it. How many digital ads never get seen by a human?