Mobile advertising in the UK will soon overtake the multi-billion pound newspaper and magazine market next year, (and surpass TV ad spend) to hit £4.5bn in 2016, according to a new forecast.
Based on a report published by eMarketer and covered in The Guardian, it looks like mobile ad spend will grow by 96 percent this year to £2.02bn.
That’s just a hair behind the £2.06bn forecast to be spent on print ads in newspapers, according to the same report.
The relentless growth in mobile usage – “half of Britons are expected to own an iPad, Kindle, or similar tablet device by 2018″ – will see the ad market grow a further 60 percent in 2015 to £3.2bn.
“Continued robust growth in the mobile channel is driving the bulk of [overall] digital ad growth in the UK,” said eMarketer in its report. “The dramatic growth of mobile and video ad expenditures will boost digital ad spending throughout the forecast period.”
The total UK digital advertising market is forecast to be worth £7.25bn this year, £7.97bn in 2015 and £8.64bn in 2016.
“Mobile will account for nearly 30 percent of all digital ad spending this year, with this figure rising to more than half by 2016,” the research company noted.
The report indicated that between 2014 and 2018, the newspaper and magazine industry will lose £276m in ad spend, though it was acknowledged that many will profit from proliferating attempts to profit from digital revenue streams.