Where will your advertising spend be going on in the future? A new report suggests it may be wise to redirect it to mobile.
Zenith, the media agency and data specialists, has released the latest edition of its Advertising Expenditure Forecasts. It predicts that mobile advertising will account for 30.5% of global ad spend by 2020 – a staggering growth of 21% per year.
The surprising numbers continue… mobile advertising expenditure is expected to hit $187bn in 2020, which is just $5bn behind the spend forecast for TV. At this current rate of growth, Zenith predicts that, in 2021, mobile will finally nick the advertising throne that television has occupied for so long, despite some saying that mobile advertising is yet to be fully exploited.
Vittorio Bonori, Global Brand President at Zenith, sums it up perfectly: ‘The mobile device in our pockets is becoming the gateway to our media world but its brand-building capabilities are still in question.’
One thing’s for sure: there are exciting times ahead for our advertising landscape.