A recent study by Interactive Advertising Bureau (IAB) has revealed that global advertising spend almost doubled in 2013 to hit $19.3 billion, up from the $10.1 billion recorded in 2012. The Global Mobile Advertising Revenue study also found that along with this global increase of 92%, Latin America recorded the highest amount of growth at 215%, with North America recording growth of 122% and Europe 90%.
Of the total $19.3 billion spent, North America accounted for the highest proportion of this figure (41.9%) – around $8.1 billion – followed by the Asia-Pacific region, which accounted for 38.9%, or $7.525 billion. Latin America, despite recording the highest growth, still only accounted for 0.7% of the total $19.3 billion, spending $144 million.
Mobile display advertising recorded the highest growth at 123.4%, followed by mobile search (92.1%) and messaging (19.4%). The growth of mobile display and mobile search was attributed to the increasing penetration of smartphones on the global market. Messaging, on the other hand, recorded a less than impressive growth figure possibly due to the popularity of third-party messaging platforms, as opposed to operator-owned messaging services like texts and multi-media messages.
Townsend Feehan, CEO of IAB Europe, stated that “businesses of all sizes are now able to engage their customers via mobile” but reiterated the fact that a number of businesses still need to perfect their mobile marketing strategies in order to take full advantage of this ever-expanding market.
When compared to last year’s study, search advertising recorded a $4.536 billion increase, display enjoyed an increase of $4.431 billion and messaging $301 million.