Digital video revenues – a component of digital display advertising – climbed 17% up to $3.3 billion in 2014, according to information released by the New York City-based Interactive Advertising Bureau (IAB).
U.S. internet ad revenues also reached an unprecedented $49.5 billion in 2014, stated the IAB Internet Advertising Revenue Report, adding that the total represents a 16% increase over 2013’s record-setting total of $42.8 billion and marks the fifth straight year of double-digit growth.
The report adds the double-digit growth also extended to Q4 numbers, reaching $14.2 billion, a 17% increase from $12.1 billion registered during the fourth quarter of 2013.
Exhibiting stellar growth was mobile ad revenues – up 76% with $12.5 billion in total. As a result, mobile is now the second largest format, accounting for 25% of 2014 digital ad revenues.
“High double-digit growth in mobile advertising is a reflection of the continued shift in consumer behavior away from desktop and towards mobile devices,” said David Silverman, partner, PwC U.S., the company that conducted and prepared the report, said in a statement. “A prominent rise in social, a significant mobile activity, is driving growth in advertising revenue as consumers spend more time connected.”