Video is Hot and Getting Hotter for Mobile Advertising

Not only are video ads hot in the United States, they’re extremely effective across the pond, too.

According to a new report from the IAB, the UK is experiencing a video ad boom of epic proportions.

“Due to advertisers’ need to tap into people’s rising use of mobile to watch content, digital advertising grew at its fastest rate in nine years – by 17.3 percent (£10.3 billion) in 2016,” MAW reports, citing data from the Internet Advertising Bureau UK (IAB/UK).

An IAB/UK/PwC Digital Adspend report notes that the last time annual growth was higher was in 2007, when it logged in at 38 percent.

“Almost half (48 percent) of UK internet time is now spent on smartphones and mobile ad spend rose 50.8 percent to £3.87 billion,” according to the report announcement. “Mobile now accounts for 38 percent of all digital ad spend, up from 4 percent just five years ago.”

What’s more, we’re told that mobile now accounts for 63 percent of video spend, 76 percent of Content & Native (including social media news feeds), and 79 percent of social media spend.

“Spend on mobile video ads more than doubled (up 103 percent) to £693 million – making it the fastest growing ad format. It accounts for 29 percent of the total growth in digital ad spend,” the IAB/UK report notes.