Advertisers will spend a staggering $102.8 billion dollars a year on video ads by 2023, according to a recent Forrester report. That number is up from $90.7 billion this year.
Forrester Analytics: Video Advertising Forecast, 2018 To 2023 (US) (free by request) analyzed data collected from various sources, including its ForecastView service. Online video includes both free and paid streaming from web-based services, TV networks and social media.
There are a number of important lessons marketers can learn from this data.
Online video is on the rise, but don’t count TV out yet
Online video’s share of ad spending is expected to grow from 21.2 percent to 34.3 in 2032, edging out TV’s share. And the number of online video viewers in 2018 (200 million) is fast approaching the size of the TV audience (258 million).
Interestingly, 81 million will only watch video from a TV network’s website or app in 2018, but advertisers aren’t there. Only 10 percent of marketers are expected to increase their ad spending more than 6 percent next year. This leaves an opportunity on network sites and apps.
[Read the full article on MarTech Today.]
About The Author
Robin Kurzer started her career as a daily newspaper reporter in Milford, Connecticut. She then made her mark on the advertising and marketing world in Chicago at agencies such as Tribal DDB and Razorfish, creating award-winning work for many major brands. For the past seven years, she’s worked as a freelance writer and communications professional across a variety of business sectors.
This marketing news is not the copyright of Scott.Services – please click here to see the original source of this article. Author: Robin Kurzer
For more SEO, PPC, internet marketing news please check out https://news.scott.services
Why not check out our SEO, PPC marketing services at https://www.scott.services
We’re also on:
https://www.facebook.com/scottdotservices/
https://twitter.com/scottdsmith
https://plus.google.com/112865305341039147737
The post Forrester report: Video ad spending expected to hit $103B in 2023 appeared first on Scott.Services Online Marketing News.
source https://news.scott.services/forrester-report-video-ad-spending-expected-to-hit-103b-in-2023/
No comments:
Post a Comment