Despite economic headwinds, mobile and digital ad spending rose 5% to $23 billion during Q3 2022, according to data from Pathmatics. Streaming apps such as Netflix, Hulu and Disney+ boosted their ad budgets. But which channels were driving the unprecedented rise in mobile advertising spending in Q3?
Social apps are taking the top spots
Social channels saw some of the highest mobile advertising spending in the last quarter. Particularly, TikTok recorded its ad spending rise by a whopping 29% quarter-on-quarter. Amazon is a top advertiser on the app, followed by Google, Disney and Hulu. The latter increased its ad budget by 667% over the past two quarters as the streaming wars intensified.
