Online video market 2017 view
Online video is no longer an additional option for marketers and managers. It’s a vital, priority part of any content strategy that wants to achieve a market success in 2017.
Online video viewing is expected globally to increase by 20% in 2017. Cisco’s latest “Visual Networking Index” findings indicate that by 2020, IP video traffic will comprise 82% of all users Internet traffic (compared to 70% in 2015). No doubt, this in turn directly will drive up global video adspend. Just for confirmation: according to the „2016 IAB Video Ad Spend Study” advertisers are shelling out more than $10 million annually on digital video services. Globally, online video is expected to account for almost a third (31%) of all digital display advertising by 2019. Up from 28% in 2017.
Well recognized all over the world agency Zenith predicts in “Online Video Forecasts 2017” (July 2017) that global consumers will spend an average of 47.4 minutes a day watching videos online in 2017. This is a big jump from 39.6 minutes in 2016.
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Market data is expected to be a 35% increase in viewing on mobile devices (smartphones, tablets) to 28.8 minutes a day. Watching video on fixed devices (PC, laptops, smart TVs) will rise by 2% to 18.6 minutes a day.
Trends worth watching
This shift towards mobile video viewing is expected to accelerate over the next years. According to the Zenith forecasting viewing on fixed devices will decline 1% in 2018 and 2% in 2019. Quite a lot, speaking objectively. Not without reason, one of the biggest market trend is defined a „smartphonization”.
According to Zenith analytics, which examined 63 key markets for this year’s report, mobile devices will account for almost three-quarters (72%) of all online video viewing by 2019, up from 61% in 2017.
Zenith also examined how the rapid growth of video consumption around the world is also driving growth in online video advertising. This is expected to increase 23% in 2017 to $27.2bn, up from $22.2bn in 2016.
You can list some of the well known video trends. The most important are:
- Video Will Drive More Self-Service Sales Processes
- Consumers expect content to be in video format
- More brands will prioritze creating a video strategy
- Sales proces video will become a higher priority
- Sales, Marketing, PR dept. will use more personalized videos in their activity
Source: Zenith, Wirebuzz