The Interactive Advertising Bureau (IAB) announced some findings from its latest ad revenue report, including that digital ad revenues hit a record high in the first half of the year at $23.1 billion.
That's up 15% from the same period last year, which saw revenues of $20.1 billion. Second quarter ad revenues were up 14% year-over-year at $11.7 billion, compared to $10.3 billion in Q2 of last year.
“This report confirms the fact that brands are deepening their commitment to interactive advertising, and that mobile is seen as a crucial part of the marketing mix,” said Randall Rothenberg, President and CEO of the IAB. “Moreover, with second half revenues traditionally surpassing those in the first half of the year, this milestone achievement is potentially a harbinger of even stronger digital ad revenues to come.”
Mobile revenues were up 76% to $5.3 billion for the first half of the year, according to the report. That's compared to $3 billion from the same period last year. $2.7 billion came from mobile search, while $2.5 billion came from mobile display and $103 million came from other mobile formats.
Digital video hit $1.5 billion (up 13%year-over-year). Search was at $9.1 billion, up 4% year-over-year. Display-related revenues totaled $6.5 billion (up 6%). This accounted for 28% of digital ad revenues overall. Social media revenues reached $2.9 billion, up 58%.
The top three ad verticals - retail, financial services, and automotive - accounted for 46% of all ad revenues.
Image via IAB