Mobile now commands more advertising spending than TV by over $6 billion, according to research by eMarketer.
By 2020, mobile will make up 43% of total media advertising expenditure in the US, which will be higher than all traditional media combined.
“Even the strongholds of TV, such as live sports and news, are starting to move online, and people are consuming them on the go through mobile devices,” explained Martín Utreras, vice president of forecasting at eMarketer. “Audiences continue to abandon traditional media, and ad dollars follow.”
The latest forecast also predicts that mobile could account for $76.17 billion of US media ad spend this year. For comparison, TV is attracting $69.87 billion in 2018, print $18.74 billion, radio $14.41 and out-of-home $8.08 billion.
However, eMarketer added that news and sports content on TV will attract greater ad spend in the future. Meanwhile companies such as Facebook and Google continue to dominate in terms of double-digit growth driven by predominantly video formats.
By 2022, mobile ad spend is predicted to be double that of TV at $141.36 billion in the US compared to $68.13 billion for TV.