UK internet ad spend reaches £10bn record high

The Digital Adspend Report revealed that 29% of the total growth in online ad budgets was accounted for by mobile video ads, which doubled in size to £693m, making it the fastest growing format. 

“People are increasingly using their smartphones to watch more clips, programmes and films,” said the IAB UK’s chief marketing officer, James Chandler. “Consequently, as companies have to follow what the industry calls ‘eyeballs’ to get their ads in front of people, they have to allocate more budget to mobile and online video as that’s where people are spending more time.”

Alongside video and mobile, social media continues to grow; budgets rose by 38% to reach £1.73bn. According to the report, 79p of every £1 spent on social media ads goes on mobile.