TV broadcasters are under severe pressure from the internet, as advertisers migrate to online media, WPP chief Martin Sorrell told The Times.

Sorrell said a fundamental shift is underway in media, as advertisers have accelerated the pace at which they are turning to online media buys.

"TV is under severe pressure at the moment from the internet," Sorrell said. "There has been a fundamental shift and the pace will quicken, but predictions of a depression in traditional media have gone too far. TV advertising is not going to disappear. It still has pulling power, but the balance will switch."

According to a recent eMarketer study, users might not be fully in tune with the shift.

The study found that the TV remains the dominate format for long-form video consumption, primarily because users prefer to watch on a larger screen.