Dive Brief:
- Digital advertising jumped 16% in 2014 to total $49.5 billion, according to the Interactive Advertising Bureau (IAB).
- Mobile advertising soared an incredible 76% during the same period, IAB reports, going from $7.1 billion in 2013 to $12.5 billion in 2014.
- Retailers led digital ad spending with more than one-fifth (21%) of the overall market. Financial services (13%) and automotive (12%) followed.
Dive Insight:
Double-digit growth in mobile advertising underlines consumers’ shift in behavior, a new report from the Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers U.S. indicates. All digital channels experienced growth, with online video (up 17% in 2014, to $3.3 billion) and social media expanding (up 57%, to $7 billion) expanding fast.
Retailers are leading category the surge in digital ad spending, with 21% of the market in 2014, followed by financial services and automotive. But a substantial 17%, growth slowed in Q4 2014 holiday ad spending from the comparable quarter of 2013, IAB says, perhaps indicating that digital ad spending has become a constant.