©IDG Communications, Inc. Photo contributed by Matthew Mikaelian.
The mobile advertising business is puny. But don’t tell that to Google and Apple.
Advertisers are on track to spend only $1 billion globally on mobile advertising this year, compared to $45 billion on all online ads, according to Sandeep Aggarwal, analyst at Caris & Co.
So it might surprise some people that Google and Apple are making a sizeable bet on mobile advertising. In January, Apple bought mobile advertising company Quattro Wireless for $275 million. In May, Google completed its purchase of Quattro rival AdMob for $750 million.