New reports from IAB and the IHS say that the mobile ad industry brought in $8.9 billion in revenue last year. That's an 83 percent increase over 2011's $5.3 billion. The fastest growing ad markets continue to be the U.S. and Western Europe, although Asia-Pacific is the biggest market overall.
However, a separate report from Papaya Mobile finds that mobile development firms don't have a lot of faith in mobile ad networks. In fact, 72 percent of small developers and 62 percent of large developers said they were frustrated with ad networks and app discovery services. In addition, 70 percent of developers believe that mobile ad networks exaggerate their effective cost per thousand impressions (eCPM) numbers.