Social media has overtaken television as young people’s main source of news. According to a report, of the 18 to 24-year olds surveyed, 28 per cent cited social media as their main news source, compared with 24 per cent for TV.

The Reuters Institute for the Studyof Journalism research also suggests 51 per cent of people with online access use social media as a news source.

This trend and the rising use of mobile phones to access news are undermining traditional business models.

The report, now in its fifth year, is based on a YouGov survey of about 50,000 people across 26 countries.