Budgets designated specifically for app development grew year-over-year, now comprising nearly 25 percent of the overall budget for online projects. At the same time, mobile apps have become a more-important part of the ad impressions and revenue on the Millennial Media ad network as well.
"This year we’ve continued to see applications grow in importance and now represent approximately half of the overall monthly impressions and revenue on our network," says Michael Avon, Millennial Media EVP & Chief Financial Officer.
The number of mobile applications developed by advertisers and marketers in 2010 increased significantly. For example, just four respondents reported they were developing 20 to 50 apps a year, when Millennial Media took its 2009 survey. In the 2010 survey 83 brands reported developing tht many apps.But most respondents reported creating one to five mobile apps over a year's time.
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