According to some estimates, over half of the U.S population owns a mobile device, and one can assume that a significant proportion of these individuals are consuming media through their smartphones and tablets. Advertisers seem to be taking note, as a new report from the Interactive Advertising Bureau (IAB) and prepared by PwC has found that internet ad revenues have surpassed those of broadcast television. Sales rose 17 percent last year to a record $42.8 billion last year.
"The news that interactive has outperformed broadcast television should come as no surprise," Randall Rothenberg, IAB's President and CEO, said in a press release. "It speaks to the power that digital screens have in reaching and engaging audiences. […] The staggering growth of mobile is clearly a direct response to how smaller digital screens play an integral role in consumers' lives throughout the day, as well as their critical importance to cross-screen experiences."
David Silverman, a partner at PwC added that the results of the report also suggest that the advertising world is transitioning to the "post-desktop era." Mobile devices will continue to play a larger role in the marketing sphere.
Other highlights from the study include:
- For the third consecutive year, mobile achieved triple-digit growth, rising to $7.1 billion in 2013
- Online video advertising brought in $2.8 billion in 2013, up 19 percent in 2012 – making it the fourth-largest advertising format behind mobile
- Retailers represent the largest category of online ad spending, followed by financial services and the auto industry.
Small businesses that want to stay relevant and one step ahead of their competitors must embrace mobile marketing solutions. To learn more, consider partnering with an internet marketing firm like KeyMedia Solutions.