Pharma Brands Ramp Up Mobile Ad Spend in Q3

December 12, 2013

MillennialMedia-Mobile-Ad-Spend-Growth-by-Vertical-in-Q3-Dec2013Several verticals significantly hiked their mobile advertising spending on the Millennial Media network during the third quarter of the year, reports the platform [download page] in a new study, with the pharmaceutical vertical leading the pack by virtue of an impressive 744% year-over-year increase in spending. Pharma ranked as the 10th largest advertising vertical on the network during the quarter, as advertisers looked to boost drug brand awareness.

Revenue estimates released earlier this year by the IAB indicate that the pharma and healthcare sector is the 8th-largest online advertising vertical, with 6% share of total spending on internet ads during the first half of this year.

Data from Kantar Media (as reported by Pharmalot) suggests that direct-to-consumer advertising of prescription drugs has rebounded so far this year, registering a slight increase during the first half of the year after declines the past couple of years. Spending on online advertising was up by 4%, with TV ad expenditures up by a similar 3.8%.

Meanwhile, other verticals increasing their spending on the Millennial Media network included news (530%), sports (411%), consumer goods (357%) and entertainment (264%). The top-spending vertical for the third quarter was entertainment, followed by consumer goods, retail, telecom and finance.

Spotlighting the tech vertical, Millennial Media says that tech advertisers are far more focused on driving site and mobile traffic than the average advertiser (56% of campaign goals compared to 34%). Video was used in 31% of the tech campaigns on the platform (compared to 22% among all advertisers), with site search also employed in 51% of tech campaigns (compared to 25% among all advertisers).

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