By Sahil Patel
Digital video ad revenues during the first half of 2014 topped $1.5 billion, marking a 13% increase from the first half of 2013, when digital video revenues reached $1.3 billion.
This data comes from the IAB’s latest Internet Advertising Revenue report, which is conducted by PwC US and represents advertising across all digital formats, including video, display, mobile, and search.
Overall, the IAB says it was another banner year for the digital advertising industry — with revenues jumping to $23.1 billion during the first half 2014, a 15% increase over the same time period in 2013 ($20.1 billion).
Among the its other findings, the report confirms that mobile remains the fastest-growing format, with mobile revenues increasing 76% to $5.3 billion during the first half of 2014. Of that number, mobile search and display* continue to be the dominant formats, accounting for $2.7 billion and $2.5 billion in revenues, respectively. Other mobile ad formats brought in $103 million.
The top three advertising verticals continue to represent nearly half (46%) of all digital ad revenue, the report said. Retail accounted for 21% of revenue, while financial services and automotive represented 13% and 12%, respectively.