Comment from Rakhee Jogia, Rakuten Marketing
PwC has released a report into the Media and Entertainment Outlook. It reveals the growth of digital advertising spend and rise of new ad formats like video and mobile advertising. Key findings include:
- · The UK market for digital video advertising on social networks and news websites is expected to grow by nearly a quarter every year for the next five years
- · Total revenues from video adverts that run alongside clips posted on services such as YouTube and Facebook, as well as on news websites, will more than double from £316m this year to £717m in 2018
- · Online video will be the fastest growing of all forms of advertising and will even outpace the expansion of mobile advertising via apps on smartphones and tablets in the next few years
- · The UK mobile advertising market is expected to increase by 17pc annually to reach at total of £2.2bn in revenue in 2018
Rakhee Jogia, Director of Display, Rakuten Marketing comments on the findings:
“Spend across digital channels is increasing as marketers seek more accountable marketing methods and people turn to connected devices. In order to engage with consumers today, brands need to provide an experience with their advertising, offering something truly beneficial to customers.
It’s absolutely critical to create a functionality for consumers so that they can take action from your ad. You can immediately add more value to your campaign when your banners become interactive or when your product image or information is dynamic. Brands need to work with a new mantra for these formats: ‘dynamic, targeted and actionable’ – this is the only way to drive sales in today’s connected world.”