Mobile ad spending is surging, and new data from eMarketer indicates that this year’s spending on mobile ads will be higher than that of newspaper, magazine, and radio advertising.
The expected growth for mobile ads is expected to be around 83%, an increase of $8.04 billion dollars from 2013. This makes mobile ads the 3rd most popular medium for ad spending, right behind TV and desktops.
The surge in mobile advertising is chiefly attributable to the fact that consumers are spending more and more time with their tablets and smartphones. According to eMarketer’s latest estimates, US adults will spend an average of 2 hours 51 minutes per day with mobile devices this year. In 2013, daily time spent on mobile devices and on desktops and laptops was equal, totaling 2 hours 19 minutes, but this year, time with desktops and laptops will drop slightly to 2 hours 12 minutes, while mobile time will increase significantly.
It’s not likely that TV will see a decline for at least four more years, when eMarketer thinks that digital will finally surpass TV advertising. However, the latest advertising forecast indicates that mobile ad growth is actually $3 billion higher than previous estimates than 2013, largely from mobile ads. At this rate, major changes to mobile advertising will only help the wave of mobile ad spending.