Media ad spending this year is on the rise and mobile is leading the way. Total ad investments will jump 5.3% from last year to reach $180.12 billion in 2014, according to eMarketer, which tracks such spending.
Mobile will lead this year’s rise in total U.S. media ad spending, and advertisers will spend 83% more on tablets and smartphones than they did in 2013 — an increase of just over $8 billion. By the end of this year, mobile will represent nearly 10% of all media ad spending, surpassing newspapers, magazines and radio for the first time to become the third-largest individual advertising venue, only trailing TV and desktops/laptops, projects the company.
Though investments in TV advertising will rise just 3.3%, advertisers will spend $2.19 billion more on the medium than they did in 2013, making it the second-leading category in terms of year-over-year dollar growth, according to eMarketer.
Why the surge in mobile ads? Because consumers are spending more time with their devices, an average of 2 hours 51 minutes per day this year, compared to 2 hours 19 minutes the year before.
Google and Facebook lead the top U.S. digital ad-selling companies. The category will represent 18.2% of total media ad spending this year, eMarketer projects. Google alone accounts for more than 10% of all advertising spending in the U.S., and in 2016, together Google and Facebook will take a 15% share of the $200 billion total media advertising market.