However, this growth will not come at the expense of other media, says the ZenithOptimedia report, it will be in addition to traditional channels such as TV, direct marketing and press.
“This is the first time in the past 20 years that a new platform is expanding overall media consumption without cannibalising any of the other media platforms,” said Jonathan Barnard, head of forecasting at ZenithOptimedia.
By 2016, mobile advertising will become the fourth-largest medium globally, worth £27bn, beating off outdoor (£24bn), radio (£22.5bn), and cinema (£21bn).
The global ad market is forecast to be worth £304bn this year – with 5.3% growth expected in 2014 and almost 6% in 2015 and 2016 – with mobile driving what Zenith says will be the strongest period of growth in a decade. By 2016 the global ad market will be worth almost £359bn. “The principal engine of this growth will be mobile technology,” added Barnard.
Last month, GroupM predicted that UK media and marketing services spend would hit £22.5bn in 2013, rising to £23.3bn next year. The big winner continues to be online marketing, reaching £6.2bn this year and £7bn in 2014 on the back of a rise in search and display. But direct mail, door-drops and leaflets are holding up well, on £4.5bn this year, followed by a slight dip of just over 2% to £4.4bn in 2014.
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