Research from the latest Internet Advertising Bureau (IAB) UK Digital Adspend report, conducted by PwC, found digital advertising rose 14 per cent hit a record £7.2 billion (€9.9bn) in 2014, driven by the increasing adoption of digital devices.
Tim Elkington of IAB said: “Advertisers are increasing their digital budgets to reach people as they go online through an increasing array of devices. It’s a win-win for consumers, because digital advertising pays for the wide range of free online services they increasingly rely on in their daily lives but don’t necessarily want to pay much for.”
The IAB said mobile advertising grew 63 per cent to £1.62 billion in 2014, accounting for 23 per cent of all digital ad spend and 56 per cent of social media spending.
Advertising on tablet computers such as the iPad more than doubled to reach £87.4 million.
Display advertising grew faster than digital advertising overall, increasing 26.4 per cent to £2.27 billion to account for almost a third of all ad spend online.
Content and “native” advertising grew to £509 million over the year to account for 22 per cent of all display ad spend, while video advertising grew 43 per cent to £442 million.