But it'll be another three years before the sector really takes off, say agencies.
Reuters reports from the Cannes Lions conference, where advertising industry bigwigs have been waxing lyrical regarding the importance of the mobile channel.
The headline figure conjured up by Ineum Consulting puts the annualised mobile ad market at $3.1 billion, but reckons it'll grow at an average of 45 per cent to reach a whopping $28.8 billion in five years.
David Kenny, Managing Partner at the digital arm of ad group Publicis, said social networks and the iPhone would be key drivers during that time.
Meanwhile, Havas chief exec David Jones said he wants to see more creativity from advertisers when it comes to mobile.
He said: "If you are interrupted every two minutes by advertising, not many people want that. The industry needs to work out smart and clever ways to engage people on mobiles."
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