Interactive advertising has continued its growth, generating a record spend in the third quarter according to the latest IAB/PwC Online Advertising Report, setting it up to generate $900 million over the full year.
During the third quarter, the various categories measured in the report generated a record $225.54 million, a 12.99 percent increase year on year. This time last year , it was celebrating the first time spend had surpassed $200 million in a quarter.
Given the current trends, the IAB estimates the interactive industry will generate some $900 million in 2016, compared to $800 million last year.
Experiencing the biggest growth is mobile advertising, which achieved just short of $11 million this quarter, a 59 percent increase year on year. This time last year, it achieved a 98 percent increase on 2014. In 2014, the category’s full year spend was only $12 million.
Also rapidly increasing its figures is social media, which achieved a 50 percent lift on 12 months ago to see a $15.64 million spend this quarter.
Not as big, but just as significant, is online video’s 20 percent growth from last quarter. It’s given the category a record spend as it follows a slight one percent increase last quarter, and a one percent loss in the third quarter last year.
The report contributes video’s surge to display advertising's $37.64 million achievement this quarter.
Meanwhile, search and directories has maintained its 54 percent share of spend, as it increased 11 percent from last quarter to reach $122 million this time.
However, not all categories have growth to report, with programmatic revenue slightly down this quarter on the result of a year ago. According to the report, it reflects a correction for over-estimated second quarter revenue by several contributors. In the second quarter, it was recorded to have achieved a record $8 million.