Global mobile advertising spend is expected to hit $362 billion next year, driven by record-breaking mobile app usage, midterm elections, and sports events like Beijing Winter Olympics & Fifa World Cup, according to a new report from mobile analytics company data.ai.
In spite of the global economic headwinds threatening social media companies’ ad businesses, short video apps are still expected to drive a significant amount of global ad spend in 2023.
Also Read: Short-form video to capture more ad spend in 2023 -Mediaocean
Economic downturn, privacy regulations to hit mobile gaming spending
When it comes to mobile gaming, consumer spending is expected to decrease by 5% year-on-year to $110 billion this year, and by 3% Y/Y to $107 billion in 2023.
The report suggests that while spending on mobile games has shown a strong resilience against the global economic downturn, Apple and Google’s privacy changes will challenge user acquisition next year.
Also Read: Global games market to decline 4.3% to $184.4bn in 2022 –Newzoo
14 more games to join the $2 billion club in 2023
14 titles will surpass $2 billion in consumer spending in 2023, and 11 of them will be mobile games, according to data.ai.
These games will be Call of Duty: Mobile, State of Survival, Professional Baseball Spirits A, Township, Onmyoji, Marvel Contest of Champions, Empires & Puzzles, Brawl Stars, Bingo Blitz, Clash of Kings, and Uma Musume Pretty Derby which will be the fastest title to hit $2 billion.
In addition; Slotomania, Lords Mobile, Rise of Kingdoms: Lost Crusade, HBO Max, iQIYI, Google One and Pandora will join the $3 billion club, which already includes titles like Disney+, Netflix, Youtube, TikTok, and Dragon Ball Z Dokkan Battle.
Mobile shopping reached an all-time high on Black Friday 2022
Mobile shopping reached an all-time high on this year’s Black Friday, driving roughly half of all sales among the top 100 internet retailers in the United States. According to Shopify, mobile shopping accounted for 73% of all global sales for smaller merchants and direct-to-consumer (DTC) brands.
Per report, travel, live events and live sports will garner more consumer spending and engagement in 2023.