In For a Penny, In For 2 Billion Pounds: UK Mobile Ad Spend on a Tear

In For a Penny, In For 2 Billion Pounds UK Mobile Ad Spend on a TearMobile advertising in the UK is on a tear.

According to eMarketer, mobile will pass the £2 billion mark in 2014 — and maybe keep on going, if the trend continues.

That’s a hit to the multi-billion pound newspaper and magazine market. The report suggests that mobile ad spend will grow by 96 percent this year to £2.02bn.

How long can print survive? While many have written the obit already, it still outranks mobile — but only by a smidgen. The eMarketer projection is that £2.06bn will be spent on print ads in newspapers in 2014.

It’s all driven by a madcap rate of growth in the mobile space. Smartphones and tablets are taking more of the market, and making mobile advertising the must-do marketing today.

“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.”

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.