Digital ad revenues in the US during the first six months of 2018 increased to $49.5 billion, representing a 23% increase over 2017 (up from $40.3 billion), according to the Interactive Advertising Bureau US’s (IAB) latest Advertising Revenue Report.
The increase has been partly attributed to a rise in mCommerce with more consumers now adapting to the use of mobile devices to shop.
Meanwhile, 60% of digital video ad revenue (up 35% to $7 billion) now comes from mobile devices. Digital audio advertising also grew 31% to $935 million during the first half of the year.
“Half-year digital advertising spend in 2018 outpaced the last few years,” said Sue Hogan, Senior Vice President, Research and Measurement, IAB. “Typically, first half revenue trends lower than second half. That we’ve see 23 percent growth this year from January through June, while simultaneously witnessing the continued decline in ad spend on traditional media, indicates that the industry dollars – which were slow to follow actual consumer behaviour – are now aligning appropriately.”
Mobile now makes up 63% of all digital ad revenues posing as a serious Internet advertising platform.
According to the report, advertisers were spending $30.9 billion on mobile media during the reporting period, up 42% compared to 2017.
Meanwhile, mobile search ad spend grew to $13.5 billion at an increase rate of 37%. It now accounts for 59% of total search revenue.
Mobile display ad revenue meanwhile jumped 45% to $11.7 billion during the first half of 2018. Perhaps unsurprisingly, social media revenue grew 38% to $13.1 billion.