US digital ad revenues reached an all-time high of $59.6bn last year, according to a new report. That’s a 20% surge over the previous record-breaking year. And the pace is quickening: Q4 saw a 23% year-on-year rise to $17.4bn and an 18% surge over the previous quarter.
The full-year IAB Internet Advertising Revenue Report, produced in association with PwC US, also offered up some even more interesting stats when it got down to the detail of just what that advertising was all about.
- Mobile advertising skyrocketed (66%) to $20.7bn last year, reflecting the migration of consumers to mobile devices.
- Non-mobile digital video, a component of display-related advertising, rose 30% to $4.2bn as advertisers targeted increasingly video-focused Millennials and Generation Z consumers.
- Social media advertising rose 55% to $10.9bn as advertisers convinced themselves that social networks were the place to be.
- Non-mobile search revenues rose a slower 8% to $20.5bn.
- Retail advertisers continue to represent the largest category of internet ad spending, responsible for 22%.
“Internet advertising was a disruptive innovation when the industry was formed,” said PwC’s David Silverman. “Twenty years later we still see double-digit growth rates. Three key disruptive trends, mobile, social, and programmatic, continue to fuel this exceptional rate of growth.”
“There’s no question that interactive screens are attracting consumers and the advertisers that want to reach them where they live, increasingly on mobile devices,” added IAB’s Sherrill Mane.
This post first appeared on Trendwalk.net, a style-meets-business blog by journalist, trends specialist and business analyst, Sandra Halliday