According to CMO.com, the latest IAB report on Australia’s online advertising expenditure shows that video and mobile advertising both experienced double-digit growth in the first three months of the year and is worth $1.15bn, a 5% increase year-on-year.
In Q1, video advertising had a 79% year-on-year growth to $77 million while mobile advertising had a 13.5% year-on-year growth to $230 million.
Phone-based advertising rose 20% between Q1 2014 and Q1 2015; one in three general display dollars was spent on mobile display and general display advertising reported its thirteenth consecutive year-on-year increase accounting for 34% of online advertising spend (worth $388 million).
Mobile advertising expenditure now makes up 20.1% of total online expenditure, rising from 17.4%.
IAB Australia’s CEO, Alice Manners, says that it’s clear the industry is heavily investing in video content as consumers’ desire to access content across a range of screens grows.
She expects to see this continue to translate into ongoing growth in video ad spend in Australia and in every other major market worldwide.