For the first half of 2016, total digital ad revenue grew 19% year-over-year, surging to $32.7 billion, according to the IAB’s Internet Advertising Revenue Report, a study released biannually by the global nonprofit. In the first half of 2015, digital ad revenues accounted for a total of $27.5 billion.
Mobile advertising is responsible for almost half of this growth, exploding to $15.5 billion in the first half of 2016 — an 89% increase over the first half of 2015. And mobile video ads on smartphones and tablets saw the biggest growth of all, according to the report — a whopping 178% increase over last year, accounting for $1.6 billion for the first half of 2016. Total digital video ads — including those on desktops — rose to $3.9 billion this year, up from $2.6 billion for the first half of 2015.
“These half-year revenues are a testament to the role of digital screens — especially mobile screens — in consumers’ increasingly connected lives,” said Randall Rothenberg, president and CEO of IAB, in a statement. “Marketers and brands clearly recognize the innate power of digital to offer immersive experiences and secure real-time engagement.”
Social media advertising also represents an increasingly large piece of the digital advertising pie, rocketing from $4.4 billion to $7 billion year-over-year, amounting to growth of 57%. The marketing categories that account for the majority of digital ad spend include: retail (21%), financial services (13%), and automotive (12%), according to the IAB.
You can view the full Internet Advertising Revenue Report, which is conducted independently by professional services firm PricewaterhouseCoopers from data supplied by companies who sell Internet advertising, right here.