Facebook's Mobile Bet Pays Off

NEW YORK ( TheStreet) -- Google ( GOOG) is poised to capture the majority of the mobile advertising market this year, but Facebook ( FB) is growing faster.

In a report from research firm e-Marketer, Facebook is poised to clinch 15.8% of the mobile ad revenue market this year, up from 5.35% last year. Prior to 2012, Facebook did not generate any revenue from mobile advertising. The research firm had previously said that Facebook would win 12.9% of the mobile ad market in 2013.

In Facebook's blowout second quarter, the company generated $1.6 billion in total advertising revenue, 41% of which came from mobile.

In contrast, Google's expected to own 53.17% of the $16.65 billion mobile ad market this year, up from 52.36% in 2012.

Facebook and Google are going to continue to battle it out for mobile supremacy, especially as Facebook really ramps up its offerings. The Menlo Park, Calif.-based social network has 1.15 billion users, with 819 million monthly active users (MAUs) coming from mobile.

Rounding out the top five in terms of mobile advertising market shares are Pandora ( P), YP (formerly Yellow Pages) and Twitter, with 2.37%, 2.27% and 1.85%, respectively.

Across all means of digital advertising, Google continues to remain supreme, owning 32.84% of the market, but Facebook is right behind Google again, with 5.41% of the market. Yahoo! ( YHOO) is in third, though e-Marketer expects the Marissa Mayer-led company to lose market share from last year, down 40 basis points to end the year with 2.97% of the market.

Microsoft ( MSFT) and IAC Interactive ( IACI) round out the top five.

-- Written by Chris Ciaccia in New York

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