Mobile advertising accounted for more than half of digital ad spends in 2016
As video consumption on mobile phones increases, more marketers are increasing the mobile ad spends.
Mobile advertising has become the largest part of the digital advertising pie.
Mobile video advertising is taking off as there was a 200% growth in video ad consumption. As a result, in 2016, there has been a 150% growth in mobile video ad spends, InMobi said.
Mobile advertising, by the end of 2016, accounted for 51% of digital ad spends and is forecast to grow to 70% of digital ad spends by 2019, said the report.
Mobile video is the fastest growing mobile ad format today. This year alone, marketers allocated 24% of their digital ad spends to mobile video ads.
With its 6% share, India is the third largest market in terms of mobile video ads. US and China are the largest with a 29% and 18% market share, respectively.
Eight out of 10 internet users in India do that from their mobile devices.
The report said that mobile video ads had four times higher user engagement over static formats and two time higher conversations over static formats.
Nearly 50% of all app marketers have adopted app retargeting as a means of engaging users in 2016.
However, only 25% of iOS and Android users were retained within 24 hours of app installation.
The average time to uninstall an app after using it the first time was less than 24 hours.