The results of the IAB's digital advertising spend report are out. They include results for online, mobile and tablet for Jan-Jun 2017.
It's no surprise that video is the star of the first half of 2017, but the scale of the growth is staggering according to the IAB's figures - a 46% year on year rise!
According to the report, ad spend on social media sites also grew 42% to £1.05 billion, accounting for over half (53%) of the display ad market.
Despite doomsday ad-blocking predictions, those pre and mid-rolls are not going to be disappearing anytime soon. The advertising industry will be heaving a sigh of relief.
In less positive news, the IPA's Bellweather Report indicates that the majority of UK firms have effectively frozen their marketing budgets during the third quarter. The cause may be a combination of rising inflation and Brexit-related uncertainty.
In the first half of 2017, advertisers spent £699 million on video ads – a 46% year-on-year rise – whilst spend on banner ads increased by just under 2% to £685 million. Video is the fastest-growing ad format and now accounts for 35% of all spend going on display advertising. Mobile now accounts for 43% of digital advertising. Display advertising as a whole grew 18% to £2 billion, whilst search grew 15% to £2.8 billion and classifieds remained flat at £692 million. Thus, overall digital ad spend grew 13.8% to £5.56bn in the first half of 2017.