Mary Meeker’s 2016 Internet Trends Report has found that online advertising is reaping the benefits of the shift to mobile, but Meeker says the growth isn’t enough.
Mary Meeker’s 2016 Internet Trends Report has found that mobile is fueling a boost in online ad growth, but she says the growth in the sector isn’t enough.
Meeker, a venture capitalist who works on new technologies, pointed to Google and Facebook’s 76% share of internet advertising growth in the US, with Facebook growing at 59% year on year and Google at 18%.
The growth is mainly owing to mobile ads, which grew 66% year on year compared to desktop ads., which grew 5%.
However Meeker says the growth is not enough, with advertisers remaining over indexed to legacy media instead of mobile.
In the US, people spend 25% of their time on mobile devices, 36% watching TV and 13% on radio, however mobile ad spend is only 12% of the total pie.
She says there is a huge opportunity for brands who nail mobile now, before the competitive market follows.
Meeker also pointed to the next generation - Gen Z - and how the market should create for that demographic. She says while millennials “communicate with text” Gen Z uses images and that apps need to cater for this image-focused age group.
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