some info13 Jan 2016 11:54
The online video market continues to grow rapidly and internationalise and this is expected to accelerate in 2015/16. The $230 billion TV advertising market (Carat AdSpend Report, March 2015) faces challenges as audiences move to multiple online video platforms and devices. As a result, the online video market is growing rapidly and TV advertising budget is progressively shifting to online video. Nielsen and the IAB have publicly recommended Brands shift at least 15% of their TV budgets to digital media.
A recent report by ZenithOptimedia (Executive summary: Advertising Expenditure Forecasts March 2015) predicts global ad expenditure will reach $544 billion by the end of 2015. Within this global ad expenditure, it estimates that online video is growing faster than any other digital category or sub-category, growing 34% to $10.9 billion in 2014, and forecast to grow at an average of 29% a year to reach $23.3 billion in 2017.
YouTube no longer represents the only major video platform. Other social media platforms are growing and providing compelling destinations for audiences and Brands, such as Facebook, Snapchat and Twitter. Online native video Creators are increasingly in demand from Brands as they continue to grow in influence and capture more mainstream media outlets. As young audiences watch increasing amounts of video online across a broad range of devices, they gravitate towards new online talent. Brands identify an opportunity to engage these young audiences more effectively.