tried to find new ways to engage with consumers. The mobile ad spend increased to
$240 billion for 2020; that is an increase of more than 25% YoY.
Social media is a key area for growth, according to researchers. On average, the time
spent in social media apps per user saw 325% growth YoY, with newcomer TikTok
dominating the space. The new social network is expected to surpass 1 billion users this
year.
Researchers found that people are not spending about 4 hours per day on their mobile
devices, a 20% YoY increase, and that they aren't afraid to spend money on various
apps and platforms. Overall, consumers spent $143 billion via their mobile devices for