The IAB released a new report produced by PwC showing that U.S. digital advertising revenue in the first six months of 2018 totaled $49.5 billion. The record high is a spike of 23% over the year-ago period. Digital audio advertising revenue for the half reached $935 million. This puts the segment on track to exceed the 2017 annual total of $1.8 billion in revenue.
The report also demonstrated high interest in mobile, which generated 63% of all digital ad revenue in the period. Advertisers spent $30.9 billion on mobile media during the first six months of 2018, rising 42% from the same period in 2017. Mobile was responsible of 73% of audio digital advertising, rising 32% on-year.
“This landmark figure cements digital advertising — whether display, search or mobile video — as one of the most powerful mechanisms of all time for brands to build relationships with consumers,” IAB CEO Randall Rothenberg said. “It’s a truth upon which direct-to-consumer brands have built their businesses, and from which all businesses can benefit.”
“Half-year digital advertising spend in 2018 outpaced the last few years,” said Sue Hogan, IAB’s senior vice president of research and measurement. “Typically, first half revenue trends lower than second half. That we’ve seen 23% growth this year from January through June, while simultaneously witnessing the continued decline in ad spend on traditional media, indicates that the industry dollars — which were slow to follow actual consumer behavior — are now aligning appropriately.”