Mobile is expected to become a bigger piece of the local mobile advertising landscape in 2013, rising from $1.5 billion last year to $3.2 billion in 2013, according to Borrell Associates’ new Local Ad Spending Report.
A new Mobile Marketing Association study finds that spending on mobile marketing hit $6.7 billion in 2012 and is projected to grow to nearly $20 billion by 2015. The entire mobile marketing ecosystem drew $139 billion in additional sales in the U.S. economy in 2012, predicted to grow 52% annually.
A wave of innovation in social media advertising will spark an exponential increase in ad spending on the medium, driving annual revenue to $19.2 billion by 2016, according to BIA/Kelsey executives speaking at the ILM West conference. Mobile advertising will triple during the same period, they said, as advertisers catch up to the strength of location-based advertising.
Mobile local ad revenue is expected to grow from $664 million in 2011 to $5.8 billion in 2016, a compound annual growth rate of 54.2%, according to a new report out today from BIA/Kelsey. Overall, digital is expected to hit $38 billion by 2016, 26% of the total local ad market.