AOL announced on Thursday morning that it is acquiring mobile ad platform Millennial Media for $238 million, granting the now Verizon-owned ad tech and content company greater programmatic reach into mobile ads.
What Brands Should Do
This acquisition marks Verizon’s official entry into mobile advertising business, something the company was unable to achieve on its own. As more and more consumers get online through mobile devices, so does the ad spending shifts to mobile. According to eMarketer, mobile ad spending will surpass PC spending by the end of this year, reaching just over $30 billion. Therefore, brands and marketers alike need to keep up with the trend, be mindful of new players in this fast expanding space, and adjust their ad spending accordingly.