UK spend on online video ads grows 46% in H1 to overtake banners

The UK online advertising market has seen spending on video formats grow by 46 percent year-on-year to reach GBP 699 million in the six months to June, according to the latest IAB UK / PwC Digital Adspend report. Video was the fastest-growing ad format and for the first time has overtaken banners, which accounted for a GBP 685 million spend in the same period (up by just under 2 percent).

Overall digital ad spend, including the search category, grew at an annual rate of 13.8 percent to reach GBP 5.56 billion. Mobile spend accounted for 43 percent of this total, representing GBP 2.37 billion, after experiencing a growth of 38 percent. Looking at the different formats, 70 percent of the spend on video ads came from mobile, compared to 30 percent for banners.

Ad spend on social media sites was up 42 percent, passing the GBP 1 billion milestone and accounting for over half of the display advert market.

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