By Chris Crum at WebProNews:
There has been a lot of question about the effectiveness of Facebook advertising lately, but the numbers show advertisers are spending tons of money on it, and in mobile, it’s one of the driving forces behind a rapidly growing market.
According to a new report from eMarketer, global mobile ad spend increased by 105% in 2013, reaching $17.96 billion, and is on pace to hit $31.45 billion this year. That, the firm says, would account for about a quarter of total digital ad spend.
So which companies are leading the charge? Take a guess. Facebook and Google of course. The two companies combined for 75.2% of the additional $9.2 billion that went toward mobile, and for over two thirds of mobile ad spend in 2013, according to the report, which also says that will continue to increase this year.
“Facebook in particular is gaining significant market share,” the firm says. “In 2012, the social network accounted for just 5.4% of the global advertising market. In 2013, that share increased to 17.5%, and eMarketer predicts it will rise again this year to 21.7%. Google still owns a plurality of the mobile advertising market worldwide, taking a portion of nearly 50% in 2013, but the rapid growth of Facebook will cause the search giant’s share to drop to 46.8% in 2014, eMarketer estimates.”
While Facebook’s continues significant growth, marketers are also growing increasingly frustrated with it, not only for a decrease in organic reach, but also for the results they’re getting from ads.
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