Mobile ad spending forecast to grow 15 percent in 2010

Sixty percent of non-mobile marketers plan to launch mobile advertising efforts in 2010, with 31 percent of agency respondents [1]stating they will invest between $100,000 and $249,000 on their campaigns, according to mobile ad firm Millennial Media's new State of the Industry report. As an average value, brand respondents forecast at least a 15 percent increase in mobile ad spend in 2010--the CPG, Retail, Entertainment, Travel and Restaurant categories are expected to lead mobile spending in the year ahead, with "engagement" cited as the most sought-after return on investment. Roughly 15 percent of respondents tell Millennial Media they will invest more than $1 million on mobile advertising in 2010, with 2.6 percent projecting mobile ad spend greater than $5 million.

Nearly 75 percent of the 100 leading agency respondents tell Millennial they have developed mobile campaigns for themselves or for a client. Seventy-eight percent said the medium met their campaign goals, with an additional 9 percent saying mobile performed "beyond [their] wildest expectations." For 89 percent of agencies, the mobile facet of a campaign is still just one dimension of a multi-platform buy. Thirty percent of agency respondents indicate mobile is now an "indispensable" component of the media mix--67 percent said mobile is "somewhat valuable," and 2 percent said it is not valuable within the scheme of their overall media mix.

For more on Millennial Media's mobile ad report:
- read this release [2]

Related articles:
Mobile search and display ad revenues [3] to hit $4.2 billion by 2015
Smartphones now generate 35 percent of mobile ad [4] requests
Entertainment vertical tops mobile ad [5] spending in Q2