UK digital ad spend totals £7 billion
Last week the results of the 2014 ad spend were released by the IAB, in conjunction with PwC. The results, as has been widely reported were brilliant, particularly for video and mobile video. Teads is a research participant, along with others from the publishing and media landscape.
The UK now has a digital ad spend totalling an amazing £7.194 billion, a like for like increase of 14% since 2013. Display has seen the highest growth which as part of the digital mix has increased by 26.4% since 2013. This is fantastic news for the UK economy and the advertising industry, which is set to continue into 2015, with Group M predicting digital will grow by 5.7%.
Digital video has boomed, back in 2010 it totalled just £53 million. Fast forward to 2014 and it accounts for £442 million. The huge increase is extremely exciting, showing how many people are convinced by the power of video advertising.
As for mobile, the total mobile market was up 63.4% reaching an impressive £1.625 billion in 2014 with display increasing by 96.2%. Mobile video now accounts for 21% of mobile display which has seen the strongest absolute growth, up 142%. It’s very pleasing to see the increase in mobile, and for mobile video to be highlighted by the IAB as an area of growth. We have recently launched our SDK formats that allow the integration of videos within apps, between two pages or two actions, and look forward to seeing further growth in the coming year.
This is a great time to be in the UK advertising industry, and especially in video. A big thanks to the IAB and PwC for pulling this together. To find out more, head to their website.