It’s no secret that the mobile advertising market has experienced significant growth year over year, with no signs of slowing down. In fact, a recent App Annie report found that global in-app advertising spend is set to nearly triple in size from $72 billion in 2016 to $201 billion by 2021.
Earlier this year, we announced our own milestone of achieving a $300 million annual run rate, marking our 6th consecutive year of growth. In keeping with this trend, we’re thrilled to share that Vungle continues to outperform the mobile app advertising market. Most significantly, in Southeast Asia and India, we’ve grown revenue by 177 percent in Q2 compared to the prior year which is why we’ve opened our newest office in Singapore to better serve our publishing and advertising partners in the region. This is the latest step in our expansion in the Asia-Pacific (APAC) region, which began with the opening of our Beijing office in early 2014, followed by offices launched later in 2015 in Tokyo and Seoul.
With the global mobile user base expected to double to 6.3 billion in 2021 and time spent in apps expected to grow to 3.5 trillion hours, advertisers and publishers around the world have a unique opportunity to capitalize on this rapidly growing market. At Vungle, we’re committed to helping performance marketers optimize their return on ad spend, deliver the highest quality consumers and maximize their ad revenue. Our continued growth is a testament to the value we provide to our clients through our platform, Vungle Creative Labs and our analytics.
When asked what’s driving Vungle’s recent growth, CEO Zain Jaffer stated: “When we look beyond the data that only focuses on volume, we’re able to identify and target loyal, high-value consumer audiences that generate significant ROI for our advertisers. This is driving growth for our partners and enabling Vungle’s continued expansion.”
“The mobile advertising industry in Asia is growing dramatically, and this presents a huge opportunity for advertisers and publishers in the region,” said Artur Grigorjan, head of marketing growth at Playrix. “Vungle is known as a leader in the in-app advertising space globally, and is driving top conversion rates through their creative innovation and technology. That’s why they’re a trusted partner of Playrix as both an advertiser and publisher.”
So far, 2017 has been Vungle’s most successful year ever. In addition to reaching a $300 million annual revenue run rate – a milestone few ad-tech companies have ever reached – we released a software developer kit (SDK) for Amazon Fire OS, making Vungle the first video performance marketing platform that developers can use to monetize their apps across all major app operating systems. Also released this year was the Vungle SDK 5.0 to support advanced placements and reporting, as well as 10 new Dynamic Templates to increase performance per impression.
We’re excited to continue this momentum and have many more exciting developments in the pipeline. We can’t wait to share them with you!