According to a report by InMobi, mobile video advertising is taking off as there was a 200% growth in video ad consumption.
As a result, in 2016, there has been a 150% growth in mobile video ad spends. It is the fastest growing mobile ad format today. In 2017 alone, marketers allocated 24% of their digital ad spends to mobile video ads.
The report said that mobile video ads had four times higher user engagement over static formats and two time higher conversations over static formats.
Nearly 50% of all app marketers have adopted app retargeting as a means of engaging users in 2016. However, only 25% of iOS and Android users were retained within 24 hours of app installation.
Source: Zee Media Corporation