US internet ad revenues reached an all-time high of $49.5bn last year

Digital advertising revenue in the US rose to a record-breaking high of $49.5bn in 2014, a 16 per cent increase from the year prior and the fifth year in a row of double-digit growth, according to the Interactive Advertising Bureau.

Mobile ad revenues jumped 76 per cent in 2014 to $12.5bn, making it the second largest format with 25 per cent of 2014 revenues. In 2013, mobile made up 17 per cent of the year’s total.

Randall Rothenberg, president and chief executive of the IAB, said: “Marketers clearly recognize that consumers are leading mobile-first lives and are investing their ad dollars accordingly.”

Digital video saw a 17 per cent increase to $3.3bn, up from 2013’s total of $2.8bn. Social media advertising increased 57 per cent in 2014 to $7bn, up from $4.5bn the year prior.

Search revenues climbed 3 per cent in 2014 to $19bn. Display-related advertising revenues increased 5 per cent to $13.5bn, making up 27 per cent of the year’s revenues.

Retailers continue to be the largest internet ad spenders, making up 21 per cent of advertisers last year followed by financial services (13 per cent) and automotive (12 per cent).

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