BEIJING -- Newspapers reported a 15 percent decline in print advertising in 2014, as more big advertisers are drawn to the Internet, according to a new report by Tsinghua University.

The report, compiled by the university's school of journalism and communication, said the decline may continue through 2015 amid the flagging economy.

However, the media industry for the first time generated more than one trillion yuan (161 billion U.S. dollars) in revenue in 2014 thanks to the expansion of Internet-based services.

Internet-based media triumphed over traditional media in 2014, the report said, adding ad revenue generated through the Internet, which reached more than 150 billion yuan in 2014, surpassed that of TV.

The report said the media industry only accounted for 1.5 percent of gross domestic product (GDP) in 2014, but with a growth rate of 15.8 percent, it is more than double that of GDP.