Mobile ad market set to double this year to reach £1bn barrier

SPENDING on mobile advertising in the UK is predicted to almost double this year, hitting the £1bn barrier for the first time.

Research from eMarketer published yesterday claimed that mobile ad revenue in 2013 will be up 90 per cent from last year, when spending was £526m. The firm said mobile will be the biggest driver of overall advertising growth, with the market as a whole set to jump by 3.7 per cent, hitting £14bn this year.

The UK is already the biggest online advertising market in Europe, and the proliferation of internet-connected smartphones in recent years is acting as a further catalyst.

Separate research from PwC claims that advertising spending will grow much faster than the rest of the economy in the next few years, as digital ad revenue rises and more traditional media like TV and print stay relatively steady.

Spending on digital advertising will hit £6bn this year, an increase of 12 per cent, eMarketer said. The researchers said its predictions for mobile ad growth had been bumped up by a stronger than expected first quarter of the year.