Citing data from IAB, MAW is out with a new report noting that mobile advertising accounted for more than half (51%) of the record-breaking $72.5 billion spent by advertisers last year.
The full report was released Wednesday by the Interactive Advertising Bureau (IAB), and prepared by PwC US.
The total represents a 22 percent increase, up from $59.6 billion in 2015. Mobile experienced a 77 percent upswing from $20.7 billion the previous year, hitting $36.6 billion in 2016.
“Mobile fueled the internet economy in 2016, with advertisers showing their confidence in digital to achieve their marketing goals,” said Randall Rothenberg, President and CEO of the IAB. “This increasing commitment is a reflection of brands’ ongoing marketing shift from ‘mobile-first’ to ‘mobile-only’ in order to keep pace with today’s on-the-go consumers.”
In a mobile world, it is no surprise that mobile ad revenues now take more than half of the digital market share, adds David Doty, the IAB’s Executive Vice President and CMO.
“Digital video’s powerful ability to attract engaged audiences is naturally attracting greater investments,” Doty notes. “Next week’s NewFronts presentations will showcase the latest in original digital video content, certain to spark even greater interest from marketers and media buyers.”
For additional insights, check out the full report here.