Mobile advertising spend has more than doubled to £203 million
Some exciting results for the UK mobile advertising industry were announced by the IAB this morning. Results from the annual IAB and PwC mobile advertising spend study, which Adfonic contributed to, show that advertising on mobile devices rocketed by 157% (on a like for like basis) in 2011, to reach £203.2 million. The industry has grown at a considerably higher rate than the previous year which saw spend levels grow by 116% between 2009 and 2010.
Delving into spend areas, display advertising spend on mobile, increased by 186% to £68.9 million (up from £28.1 million in 2010) representing a 34% share of the market.
The increase in 2011 display ad spend has been driven by performance campaigns, and rich media, which has moved from a niche to a mass market offering. A lot of brands see rich media as an opportunity to expand, and move beyond the banner as it gives agencies the ability to flex their creative muscles. Add to this the increases in spend across a number of vertical such as consumer goods, automotive and finance and you can see why we have such growth in our sector. The study also shows that ad spend on mobile has overtaken cinema ad spend for the first time in 2011.
The mobile marketing industry is moving even faster than last year and is doing so during constrained economic conditions. Which other industry can point to sustained growth rates like this?