The segment is expected to bring in US$285m in four years time.
Mobile is fast emerging as the largest growth driver in Internet advertising in Hong Kong with segmental revenues expected to account for a third (32%) of total ad revenues by 2022, according to accounting firm PwC.
Mobile internet advertising is expected to expand at a double digit compound annual growth rate (CAGR) of 14.1% to US$285m in four years time, which makes it a fertile ground for advertisers.
With mobile internet users spending over 2 hours a day on mobile activities compared to a little over an hour for TV, advertisers should double down on this medium to capture and monetise attention.
“Mobile Internet advertising growth drivers include video-on-demand, live streaming, and online shopping, forces driven by high speed networks and higher resolutions with the 5G roll out that will improve the user experience, “said Cecilia Yau, PwC Hong Kong Entertainment & Media Leader. “This encourages advertisers to trial technologies such as live experiences to monetise mobile consumers.”
Mobile advertising also overtook display in 2016 in terms of internet advertising revenue and is similarly expected to overtake paid search by 2021.
“Mobile devices are becoming consumers’ primary access to E&M content, and therefore means to reach and monetise mobile consumers by offering direct-to-consumer models such as live experiences. Expanding content and distribution onto digital platforms that grow with consumers’ time and spend will be key,” said Wilson Chow, PwC Global, China & Hong Kong technology, media & telecommunications leader.
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