[LONDON] British companies spent a record 3.5 billion pounds (US$5.6 billion) on digital advertising in the first half of 2014, helped by the increasing use of smartphones and tablets, according to a report published on Wednesday.
The study from the Internet Advertising Bureau (IAB), conducted by PwC, said that overall advertising on the Internet and mobiles was up 16.6 per cent from the same period last year.
Video advertising was up 59 per cent year-on-year to 202 million pounds. Mobile video advertising alone rose 196 per cent to 63.9 million pounds, making it the fastest-growing digital ad format. "Video now accounts for 1 in every 5 pounds spent on Internet and mobile display ads," said Tim Elkington, chief strategy officer at the IAB.
"Watching video on connected devices is becoming an increasingly social activity, like traditional TV. Half of people watching TV, films or video clips online do so with family members and three in 10 watch with friends," he added. - Reuters