Google and Apple are emerging as top contenders in the fight for the mobile advertising market.
Mobile ad spending worldwide increased 74 percent last year, to $913.5 million, Entrepreneur magazine reports in this month's issue. That's a tiny fraction of overall ad spending, but the trend is clear if you look at the kids: more than a third of Millennials get their mobile ads on Apple devices, according to one report, and Google controls 21 percent of the space, according to Entrepreneur. The two tech giants are coming from opposite directions: Apple has a great phone product it wants to leverage for mobile ads; Google has a head start on mobile ads it wants to supplement with a new phone product. The bottom is line is both companies want a bigger piece of mobile advertising.
And the land grab has been accelerating. Last week, Google won a potentially crucial patent for location-based advertising, according to a Monday VentureBeat report. What it means is still unclear, but some argue that the broad patent may give Google a lock on the market. It could be a cause of concern for small companies without large patent portfolios and it could raise questions among big companies, too. Still, VentureBeat notes that such patents are often defensive rather than offensive.