According to a new survey by Millennial Media, the trend for marketers to use mobile advertising will continue through 2014. Last year the total mobile ad spend more than doubled year over year, and according to this survey, the growth will be almost as strong this year. The survey reached out to brands from five different vertical markets, with multiple companies in each one to see how much they would be increasing their mobile ad budgets, and what types of ads they would be running.
Not surprisingly, the majority of the spending increase will be directed toward Google and Facebook. An estimated two thirds of new ad dollars will go to one of these two advertising networks. The sustainability of this type of growth for Facebook might be limited, since they have a set number of ad spots they can fill. They will have to start raising their prices, which will force the market in this area to stabilize a little bit.
When it comes to which companies are moving their money into mobile, there were some interesting stats that came out of the survey. First, the biggest year over year spending increase will come from sports advertising. This includes sports related products, as well as services such as mobile sports streaming from ESPN or cable companies. In this area the mobile ad spend rocketed up by nearly 500%.
Consumer goods ad spending is expected to go up by 134% in 2014 as well. Regardless of which sector it is, however, most of the money is going toward rich media and video based mobile ads. These are still fairly new for mobile devices, but they are one of the most effective and popular options available. Compared to banner ads, the spend on these advanced advertisements went up 350% more for this year’s ads.
