Mobile advertising expenditure has doubled year on year in the UK to £28.6 million, according to research by the Internet Advertising Bureau (IAB) and PricewaterhouseCoopers.
Investment in mobile advertising grew faster than predicted during the period. Mobile display advertising which includes banners, text links, and in-game accounted for 49.8 per cent of all mobile advertising totaling £14.2 million.
50.2 per cent of advertising was spent on paid-for search advertising amounting £14.4 million.
The IAB and PricewaterhouseCoopers released a study in 1998 which indicated the internet advertising market was worth £19.4 million, but in 2008 online advertising rose to £3.35 billion, which accounted for 19.2 per cent of all advertising expenditure.
The IAB is due to launch a ‘How To’ guide on briefing, planning and executing marketing campaigns.
IAB head of mobile Jon Mew said: “The sector is in its infancy but is considerably bigger than the market was expecting.
“Thanks to these landmark figures we know the real value of the mobile advertising industry, and will now be able to chart the medium’s growth with confidence.”
IAB chief executive Guy Phillipson said: “Over the past 12 months the marketplace has been buzzing with anticipation about this exciting new channel. Now is the perfect time for brands to dip their toes in the water, to see for themselves how effective and complementary mobile advertising can be.”
PricewaterhouseCoopers LLP Eva Berg-Winters said: “Mobile advertising has shown impressive, steady growth throughout 2008 in an overall declining advertising market.
“The way has been paved by online advertising, which combined with the rapid uptake in mobile internet usage, will ensure it becomes a very powerful advertising medium over the next few years.”