In the world of advertising, if you're not there one second, you might miss the next big thing. To help you keep you up to date on the news you need to know, every week we'll bring you ad stories you might have missed, but can't afford to ignore.
Mobile payments to total $235 billion globally in 2013
More people around the world are trusting their financial transactions to mobile devices. Payments on mobile devices are expected to top $235 billion this year, a 44% increase over 2012, according to a Gartner study.
More highlights from the study:
- In North America, mobile payments will climb 53% to nearly $37 billion this year
- Global payments will average 35% annual growth through 2017, hitting $721 billion
- Mobile payment users will reach 245 million this year, and should exceed 450 million by 2017
Money transfers (71%) and merchandise purchases (21%) will account for most of the total mobile transaction value in 2013. Purchases are expected to increase to 23% of the total by 2017 as the buying experience on mobile devices continues to be optimized, said the report. The report decreased its estimate of the value of transactions handled through Near Field Communications by more 40% through 2017, citing “disappointing” adoption of the technology.
More than half of all Americans own a smartphone
For the first time, the majority of the U.S. population (56%) now owns a smartphone, according to data from the Pew Research Center's Internet & American Life Project. It’s also a stark jump from just two years ago, when 35% of Americans owned a smartphone. Last year, it was 46%.
Here are the study's metrics for smartphone ownership in the U.S. by age group:
- 79% of consumers ages 18-24
- 82% of consumers ages 24-34
- 69% of consumers ages 35-44
- 55% of consumers ages 45-54
- 39% of consumers ages 55-64
- 18% of consumers ages 65+
It also broke down smartphone ownership by ethnicity:
- 64% of African-Americans
- 60% of Hispanics
- 53% of whites
Q1 Internet ad revenues skyrocket
Online advertisers are seeing the money roll in: U.S. digital advertising revenues surged to record highs in Q1 2013, totaling $9.6 billion, according to the Interactive Advertising Bureau (IAB) and PwC U.S. That’s a 15.6% year-over-year rise from Q1 2012 ($8.3 billion). Only three years ago, first quarter revenues barely scratched above $6 billion. The study attributes the growth to the increasing awareness of digital marketing effectiveness by businesses and consumers.
"Consumers are turning to interactive media in droves to look for the latest information, to connect with their social networks, and simply to be entertained," said Randall Rothenberg, President and CEO, IAB. "This first-quarter milestone clearly illustrates that marketers recognize that digital has become the go-to medium for all sorts of activities on all sorts of screens, at home, at the office and on-the-run."