Mobile advertising budgets declined in the wake of the coronavirus pandemic as new figures by Warc and the Mobile Marketing Association (MMA) unveil.
However, this hasn’t dampened advertiser enthusiasm for the format with 94% of marketers still considering mobile ads to be effective.
Around half (49%) of professionals plan to allocate over a quarter of their budgets to mobile ads, up from 40% in 2019.
The survey asked almost 600 marketing professionals across 26 markets for their opinions on the state of the industry.
“The findings of this year’s survey reveal that despite reduced budgets bought on by Covid-19, mobile marketing remains the fastest growing channel providing opportunities, such as mobile video, e-commerce and gaming, for brands to effectively engage with consumers,” said Amy Rodgers, Managing Editor Research & Ranking at Warc.
Even though 39% of marketers are planning to increase their budgets on mobile ads in 2020, that’s a decrease from 66% wanting to do so before COVID-19.
Mobile video is one of the key formats attracting major investment with 50% of budgets going toward the format.
TikTok and the release of competitors such as Instagram Reels are testament to the success and video on mobile devices.