U.S. digital advertising revenues for the first six months of 2018 rose to $49.5 billion, according to the latest IAB Internet Advertising Revenue Report released by the Interactive Advertising Bureau (IAB) and produced by PwC US.
The figure represents the most advertisers have ever spent on digital media in a first half of a year and a “dramatic 23 percent year-over-year increase from the $40.3 billion reported for the same period in 2017,” according to IAB.
The report cites the direct brand economy and the related increase in mCommerce as partly responsible for the growth.
“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,” said Randall Rothenberg, CEO of IAB. "It’s a truth upon which direct-to-consumer brands have built their businesses, and from which all businesses can benefit.”
Other details from the report include: digital video advertising revenue reached $7 billion in the first half of 2018, up 35 percent from a year ago, with 60 percent of this revenue was from mobile video; mobile, which now accounts for nearly two-thirds of all digital ad revenue, continues to be the internet’s leading ad platform, up from 54 percent of total revenues in half-year 2017; and social media revenue was $13.1 billion in the first half, up 38 percent year-over-year.