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Mobile spend hits $20b
As more consumers hit the mobile superhighway brands are following suit. According to new data out from the IAB the mobile ad spend has topped the $20 billion mark for the first half of 2013, an 18% increase over 2012.
And there is good reason for the increase in spending: consumers are clicking. Mobile revenues hit $3 billion for the first half of 2013, an increase of 145% over 2012 while digital video revenues pushed past the $1 billion mark, a 24% increase YoY.
Better technology is one thing pushing more shoppers into the digital space. The ability to shop with crowds and pay securely are two reasons many say they are shopping more via mobile. This month Jumio added to their base with the launch of a new mobile wallet, which integrates mobile utilities like Apple's Passbook or Samsung's Wallet with PORT, the one click payment option.
"Unlike today's digital wallets that function solely for mobile payments, and require consumers to download individual merchant apps, PORT enables efficient transactions in both digital and real world environments, mirroring the full functionality of a traditional wallet," said Jumio CEO Daniel Mattes. "The current absence of a comprehensive device-based wallet offering that is securely integrated into the merchant apps, at the point of transaction, is what has hindered mobile wallets from reaching the critical tipping point."
"Digital has steadily increased its ability to captivate consumers and then capture the marketing dollars that follow," said Randall Rothenberg, President and CEO, IAB. "Mobile advertising's breakneck growth is evidence that marketers are recognizing the tremendous power of smaller screens. Digital video is also on a positive trajectory, delivering avid viewership and strong brand-building opportunities."
Other interesting findings from the IAB include:
• Search Revenues increased 7% to hit $8.7 billion
• Display ad revenues pushed to $6.1 billion
• The top three mobile ad verticals were Retail, Financial Services, Automotive
Image via Shutterstock
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