Mobile spending sees modest growth

A 15% year-on-year growth in overall ad spend has been recorded in the first two months of the year, according to new admanGo data.The increase to HK$6.2 billion was driven by two factors: Mainland Chinese tourists and a shopping bonanza ahead of Chinese New Year - two key areas which stimulated advertisers' spending.But the real story to emerge from admanGo's report is mobile advertising, which jumped four times on the same period in 2012.But closer inspection shows mobile spending was a mere 0.6% of the overall share, or around HK$40 million.Kevin Huang, CEO of Pixel Media, said mobile advertising is still considered an emerging media, but was bullish about its growth prospects.He said mobile has the most potential of all channels and would overtake newspaper and radio within three to five years."All mobile advertising needs is time," he said.Cosmetics and Skincare ranked as the top spending category on mobile, replacing the banking sector which was previously the biggest.Mobile also attracted several new industries namely Bridal services, Pets and Construction, which did not advertise on mobile during the same period in 2012.