By Jonathan Davies
Spending on digital advertising in the UK hit a record £3.5 billion in the first half of 2014, according to PwC and YouGov.
The latest Internet Advertising Bureau (IAB) UK Digital Adspend report, conducting by PwC and YouGov, found that the British people's growing appetite for watching videos, TV and films on mobile devices helped to boost digital ad spend by (£467m) 16.6% .
The IAB and PwC report found that video advertising on internet and mobile phones grew by 59% to £202 million in the first half of the year, compared with the same period in 2013. There was particularly strong growth in mobile advertising. Mobile-only video advertising was up 196% to £63.9 million and is now the fastest growing digital ad format.
Tablet-only advertising spending was up 160% to £29.2 million, up from £10 million.
The report shows that 73% of those surveyed have watched TV programmes online in the last six months, followed closely by those who have watched short videos (72%), and 59% have watched films online.
On average, people in the UK spend 2 hours 35 minutes a week watching TV online, compared to 1 hour 50 minutes for online film viewers and 51 minutes for those watching video clips.
Tim Elkington, Chief Strategy Officer at the UK’s IAB, said: "A third of online viewers, particularly 35-44 year olds, are watching more TV, films and clips online than a year ago. Consequently, video now accounts for £1 in every £5 spent on internet and mobile display ads.
“Average weekly viewing online amounts to 25 videos, 4-5 TV episodes and one film but what's most interesting is that watching video on connected devices is becoming an increasingly social activity, like traditional TV. Half of people watching TV, films or video clips online do so with family members and three in ten watch with friends."
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