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Advertisers, online marketers, and business owners are spending even more money on mobile ads than expected.
According to a recent report by New York-based research firm eMarketer, mobile ad spend in the US jumped to a staggering $4 billion in the third quarter of this year. The previous forecast was estimated to be at only $2.16 billion. The huge growth was attributed to the popularity of mobile apps, platforms, and ad formats designed to more effectively connect businesses to consumers. In particular, eMarketer cited Facebook’s mobile news feed ads and Twitter’s Promoted Products platform.
Facebook, which had no distinct mobile advertising platform at the beginning of 2012, suddenly grew its net mobile ad revenues to $339 million this year. The world’s most popular social network easily overtook the net mobile ad revenues of Pandora ($224.8 million) and Twitter ($134.9 million).
However, it is still Google that owns more than 50 percent (an estimated 56.6 percent) of the US mobile advertising market, with over $2.17 billion in mobile ad revenue. eMarketer wrote that the search engine giant’s success was “driven primarily by the underlying strength of its AdMob network and its pre-existing relationships with advertisers looking to extend their display efforts to mobile devices.”
The study took into account both search ads as well as display (banners and other rich media and video) ads on mobile devices, including smartphones and tablets.
If you’re a marketer or business owner looking to enhance your online reputation and build buzz around your brand, where do you plan on spending your marketing and advertising budget next year? If you’re looking to reach the mobile audience, where would you advertise? Let us know by leaving a comment below, or by connecting with ReviewTrackers on Facebook and Twitter.