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Video continues to skyrocket in latest IAB adspend report

Video continues to skyrocket in latest IAB adspend report

Over the first six months of 2018, adspend on video formats has once again experienced dramatic year-on-year growth – up 40% to a total of £976m, according to the latest digital adspend report from the IAB UK and PwC.

Smartphones continue to account for the majority of video spend, driving total display adspend up 20% YoY to £2.3bn.

Meanwhile, spend on search has increased 15% YoY to £3.3bn, more than three times the £958m spent on search through H1 ten years ago; elsewhere, classified advertising remains steady at £726m.

Commenting on the results, the IAB UK’s CEO, Jon Mew, said: “With today’s half year announcement of gross revenue of £6.4bn and with impressive year-on-year growth of 15 percent, it is essential we remain focused not only on building the future for digital advertising but on building a sustainable future.”

IAB UK’s chief digital officer, Tim Elkington, added: “With mobile devices accounting for 75 percent of all UK adults’ time online, it is safe to assume smartphone penetration continues to contribute towards the 15 percent year-on-year growth in digital adspend reported today.”

The half year figures are now reported for combined mobile and desktop adspend; the full year report is due for publication in April 2019.

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