Well it’s finally happened; traditional media channels are oversaturated.
Mary Meeker’s 2018 Internet Trends Report is out, and the big themes in the 294 slides this year: privacy, ecommerce, China and mobile.
A glaring trend in this report is the significant increase in mobile usage. More and more adults are spending more time online thanks to mobile, clocking 5.9 hours per day in 2017. Attention is shifting to mobile more than advertising is, with 29% of time spent on mobile, and only 26% on advertising budget.
Growth continues in internet advertising, but with the percent of time spent in media and percent of ad spend decline in print, radio and TV, Meeker identified a $7 billion opportunity for mobile.
But there is a huge issue…mobile ads suck!
A PageFair study in 2017 revealed that Adblock usage grew 30% globally in 2016. This means that people are becoming more and more frustrated with disruptive and irrelevant mobile ads.
We also know that roughly half of mobile ad clicks are accidental, and around 50% of ad impressions end up not delivered or not fully-loaded. It means that industrywide, human error is measured as a win. It also means that advertisers are wasting billions every year in ad spend.
In summary, mobile ads are poor, and advertisers and consumers are getting ripped off.
But there is a better way! This problem is worth solving and our team at Loop Media Group are launching solutions to provide a more authentic and valuable relationship between advertisers and mobile consumers. Stay tuned!