The UK's mobile advertising spend is predicted to hit £4.5bn in 2016, according to a new report by eMarketer. The figures are well ahead of the £3.8bn forecast to be spent on television advertisements in the same year.
The mobile advertising market is forecast to grow by 96% this year to £2.02bn – a little behind the £2.06bn predicted to be spent on newspaper advertisements. The explosion in mobile ownership will see the ad market grow a further 60% in 2015 to £3.2bn, according to the report.
eMarketer said the stratospheric growth of mobile advertising is showing no sign of abating with the sector predicted to see a 38% rise for 2016.
A strong economy, high consumer confidence and increases in spending on digital, TV, radio and outdoor formats will spur what growth there is in total media ad spending. ‘The dramatic growth of mobile and video ad expenditures will boost digital ad spending throughout the forecast period,’ said the company.
While digital, and especially mobile, are boosting total growth, other channels are flat or even losing ad revenues.
eMarketer estimates that the total UK ad market across all media will rise 6.6% this year to £15.1bn.