Digital ad spend has been growing rapidly for several years with mobile and video as dominant drivers for the huge numbers. According to a recent report, finance, and telecom companies are spending top dollar on mobile advertising. Meanwhile, digital ad spend in Europe is seeing its highest growth since 2011, thanks to mobile and video. Read all about it in this week’s Mobile Monday!
Finance Firms Spend on Mobile Advertising to Reach Millenials
Market research company, eMarketer released their report named Digital Ad Spend by Industry 2019, which gave insights into ad spending by various industry verticals in the United States and the United Kingdom. The report states that U.S. digital ad spend is forecasted to reach $129.34 billion by the end of the year, up 19.1% from 2018. While retail dominates in spending, financial service companies are increasing their budgets and will eventually surpass automotive. Finance has recently focused on targeting millennials through mobile advertising. As millennials start to turn 40, finance firms are offering services to manage debt and plan for retirement through the easy access of their smartphones.
Telecom is the Most Mobile-driven Industry
Mobile will also be a big factor for the telecom industry which is forecasted to spend a total of $13.45B by the end of 2019. Telecom is expected to use 70% of that total for mobile ads, making it the most mobile-driven vertical. Meanwhile, the report says that digital ad spending in the U.K. will increased 11.2% this year to £14.73 billion ($18.57 billion). Across all industries, mobile will see the biggest growth and spend will be uniformly strong.
Mobile and Video Jumped Over 30% in European Ad Spend
The Interactive Advertising Bureau (IAB) in Europe released their 2018 AdEx Benchmark Report which provides key results from the 2018 European digital advertising market. According to the report, digital advertising reached a market value of €55bn and experienced the fastest growth since 2011, driven by mobile and video. Video rose to 30.9% to €7.6 billion and accounted for 33% of the display market. Mobile ad spend also saw a huge jump of 31.4% to €22.8 billion, making up 41% of all digital ad spend.
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