Video continues to skyrocket in latest IAB adspend report

Over the first six months of 2018, adspend on video formats has once again experienced dramatic year-on-year growth – up 40% to a total of £976m, according to the latest digital adspend report from the IAB UK and PwC.

Smartphones continue to account for the majority of video spend, driving total display adspend up 20% YoY to £2.3bn.

Meanwhile, spend on search has increased 15% YoY to £3.3bn, more than three times the £958m spent on search through H1 ten years ago; elsewhere, classified advertising remains steady at £726m.

Commenting on the results, the IAB UK’s CEO, Jon Mew, said: “With today’s half year announcement of gross revenue of £6.4bn and with impressive year-on-year growth of 15 percent, it is essential we remain focused not only on building the future for digital advertising but on building a sustainable future.”

IAB UK’s chief digital officer, Tim Elkington, added: “With mobile devices accounting for 75 percent of all UK adults’ time online, it is safe to assume smartphone penetration continues to contribute towards the 15 percent year-on-year growth in digital adspend reported today.”

The half year figures are now reported for combined mobile and desktop adspend; the full year report is due for publication in April 2019.