European mobile ad market to hit $1bn by 2014

The European mobile advertising market is expected to reach $1.03 billion by 2014, according to research from mobileSQUARED.

The big five – the UK, Spain, Italy, Germany and France – will account for nearly $264 million in mobile spend this year, growing to $400 million next year.

Previously, mobileSQUARED predicted that 2015 would be the milestone year when the mobile ad market would reach $1 billion.

However, the rise of smartphones – particularly Android – are “massively increasing the number of mobile internet and app users and associated levels of available inventory to be exploited by the mobile ad networks”.

In the UK, the report forecasts that banners will account for over 60% of spend.

Read the full MediaPost article here.