Rise of smartphones sends mobile ad spending soaring to £1.7bn high
Consumers' obsession with their smartphones has seen spending on mobile advertising increase by its fastest rate for two years to a record high.
Mobile ad budgets increased by 56% to £1.7 billion in the first six months of the year compared with this time last year, according to the latest Internet Advertising Bureau (IAB) and PwC Digital Adspend report.
The figures mean 36p in every £1 spent on internet advertising now goes on smartphones, up from 4p five years ago.
A YouGov survey for the report found 82% of smartphone owners check their devices within an hour of waking up, while 86% of 18- to 34-year-olds do so within 30 minutes.
The poll also found smartphones are now the primary source of news for 30% of owners, rising to 42% among 25- to 34-year-olds.
IAB UK's chief strategy officer Tim Elkington said: "People use their mobiles today more like a computer than a phone, being increasingly dependent on them as the hub for information, entertainment and communications.
"The wider range of activities and longer time people spend on them is why companies are raising mobile budgets. It's also a more effective way for advertisers to deliver more relevant and immediate offers such as those related to certain locations or time of day."
:: YouGov surveyed 2,011 adults online on July 27-28.