Bolstered by growth in countries such as China and India and in the new media world, the global media market will hit $5.7 trillion in 2024, according to the Future of Media Report 2008 released by the Future Exploration Network. In just 16 years, the amount spent will more than triple from its current figure of $1.7 billion.

"In developed countries such as the US people are consuming media from multiple sources wherever they go," Ross Dawson, chairman of Future Exploration Network, said in a statement. "This will mean average media consumption will be 13 hours a day by 2020, and not long after that will be equivalent to all our waking hours. Advertisers will spend ever more to cut through this massive media overload."

Despite the sunny outlook, media company shares continue to fall through the floor.

Let's just give all our money to Google and be done with it.