Driven by advertisers’ need to tap into people’s rising use of mobile to watch content, digital advertising grew at its fastest rate for nine years – by 17.3pc to £10.3 billion in 2016 – according to the Internet Advertising Bureau UK / PwC Digital Adspend report. The last time annual growth was higher was 2007 (38pc).
As almost half (48pc) of UK internet time is now spent on smartphones, mobile ad spend rose 50.8pc to £3.87bn. Mobile now accounts for 38% of all digital ad spend, up from 4% just five years ago. However, it accounts for 63pc of video spend, 76pc of Content & Native (including social media news feeds) and 79pc of social media spend.
- Digital Adspend grew to £10.3 billion in 2016, up 17.3% on a like for like basis
- Mobile now accounts for over half of all display advertising
- Video was the fastest growing format at 56% on a like-for-like basis since 2015
- Social media display grew 38% to £1.7 billion