Video advertising software company TubeMogul has reported that 9% of the spend on its platform in Q3 came from mobile video - almost twice the total delivered in Q2 2014.
In a report from earlier this year, TubeMogul revealed the positive change in engagement with mobile video ads and the opportunities these provide for brand marketers in reaching consumers through ways not possible via “traditional” devices such as laptops and desktops.
Now, with the help of mobile, the company has beaten its estimates for Q3 2014 with $27.4 million in revenue, ahead of an expected $20 million - $22 million, and more than double what the company saw in Q3 2013.
Brett Wilson, CEO of TubeMogul, added that the migration of TV ad spend has also improved the company’s financial state as companies look to new ways of engaging with viewers.
The rise in online video popularity means marketers are able to combine video branding with the accessibility of a global market and a connection with consumers via devices which are “in every purse or pocket, are seldom left behind when away from home”, according to TubeMogul’s aforementioned report.
TubeMogul’s full-year 2014 guidance rose to $109 million to $111 million in expected revenue and $30 million - $32 million is expected in revenue for Q4, up from the previous full-year guidance of $98 million - $102 million.
Wilson stated that, in general, demand for the company's products are on the up and this will aid the group going forward.
“The shift of TV ad dollars into digital, the rapid adoption of software-based buying, and the desire by advertisers to gain more control and transparency over their ad spend by using self-serve platforms have all contributed to the growth of our business and we believe will create a market opportunity of considerable magnitude for the foreseeable future," he added.