Year on year mobile video spend has soared by 107% according to the IAB’s latest Digital Adspend report, conducted by PwC. The report, which showed there had been significant growth in digital display advertising revenues, emphasised the strong growth of mobile video– up from £61.0m in H1 2014 to £126.1m in H1 of this year. Mobile video spending now constitutes a quarter of all annual mobile spending.
This follows eMarketer’s reports that mobile ad spending is set to overtake print this year, with the rise of mobile advertising to continue into 2016.
Mobile as a whole saw great results – 27% of all digital advertising now occurs on mobile, up from 22% in 2014. For the first time, the mobile advertising market has crossed the £1bn threshold, up £337million on the year before. The rise in mobile ad spending also constituted nearly 80% of the rise in overall digital ad revenues. There is now a greater trust in the effectiveness of mobile advertising as an effective marketing method and a move to embrace the flexibility and possibility that mobile advertising can afford.
Digital Adspend grew to £3.975billion overall, up 13.4% on the year before, with travel and transport now the top spending display sector in the UK. The news was met with widespread satisfaction, particularly after the new fears surrounding adblocking, both on mobile and desktop devices. As Tom Elkington, Chief Strategy Officer at IAB UK put it, ‘it's clear to see the UK digital advertising industry is maintaining its strong revenue growth at a much greater rate than the overall economy. The fact remains, as consumers spend more time on connected devices, advertisers must increasingly direct their attention and budgets there.’
Read the full report here.