BOSTON--(BUSINESS WIRE)--Consumer and advertising expenditure on handset-based mobile media is set to remain strong and will approach $720 Billion by 2023, according to Strategy Analytics’ latest report “Global Mobile Media Forecast: 2011-2023.” The growing availability of 5G, particularly in advanced mobile data markets, will help to satisfy latent consumer demand for popular internet services and further drive premium and ad-supported content consumption on mobile devices. Strategy Analytics expects handset-based advertising will account for over half of digital advertising expenditure as advertisers increasingly focus on reaching their audiences on their mobile phones.
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Consumer demand for accessing popular internet services and apps on mobile phones, including Facebook, YouTube, Spotify, and mobile games, among others, continues to increase, supported by the growing penetration of rich media smartphones and improving data connectivity via LTE and emerging 5G networks. Brice Longnos, Analyst, Wireless Media Strategies, Strategy Analytics notes, “Overall, we expect 5G to deliver continued positive growth to mobile media revenue rather than deliver a significant step change. The increased capacity, greater bandwidth and lower latency benefits of 5G will enable digital media companies to deliver evolved rich media experiences, like 360 video, HD video, VR, and AR at greater scale over mobile networks to smartphones.”
The positive impact of 5G will help to boost data traffic and data revenue for operators as consumption rises, but will also underpin continued uplift to consumer and advertiser expenditure on mobile content.
Nitesh Patel, Director, Strategy Analytics notes, “Despite the introduction of GDPR and the negative publicity related to social advertising channels like Facebook and YouTube, the growth in mobile advertising continues to be driven by a combination of its effectiveness, rising consumer dependence on their mobile phones for accessing popular internet apps, and greater participation by brands and business in engaging users on their primary personal screen.”
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