On Tuesday, during opening remarks at its annual SM2 Innovation Summit, the Mobile Marketing Association released a report that suggests worldwide mobile ad spend could reach $220 billion worldwide ($70 billion in the US alone).
According to the report, the size and growth potential of mobile ad spend indicates popular market projections have been “underestimated.”
“Our analysis indicates that the amount brands should spend on mobile has been grossly underestimated and that the industry is likely to be larger than currently predicted,” explains Greg Stuart, CEO at the MMA.
“We hope this report challenges marketers and agencies to look deeper at how they are allocating their ad dollars, as marketing executives who choose to move first to optimize mobile advertising spend will open an important competitive advantage – a tangible share shift,” he adds. “For the largest advertisers, this could mean hundreds of millions of dollars of additional annual revenue with billion dollar incremental market cap implications, all without spending another advertising dollar.”
If you were unable to attend SM2, the MMA has made its full report available to download online. To get it, click here.