Mobile made up seven per cent of all internet ad revenues for the first half of 2012 in the US, according to an IAB Internet Advertising Revenue report put together in partnership with PwC US – rising to a total $1.24bn. 

Thats up nearly double on the first half of 2011, when mobile advertising pulled in $636m in revenue, making up four per cent of all internet advertising.

Internet advertising revenues as a whole grew by 14 per cent year-on-year, to a record high of $17bn for the first half of the year. Mobile, as the fastest growing ad format recognised by the report, is the single biggest contributor to that increase – and its share is continuing to grow, up to eight per cent of all revenues in Q2, 2012.

“The tremendous growth of mobile advertising revenue over the past year is an indication of the importance of location to advertisers and mobility to consumers,” said David Silverman, a partner at PwC US. “Bringing the power of the internet to mobile devices has opened up a world of possibilities to both consumers and marketers.”