Forrester predicts digital video ad spend to grow 21% annually
- A new report from Forrester on the video ad ecosystem predicts digital video ad spend will grow 21% annually.
- At the same time broadcast TV ad spending is down 10%, and cable spend is down 3% year-over-year according to a Standard Media Index survey.
- These changes in ad spending are happening while major tech firms such as Facebook, Twitter and YouTube are focusing on, and rolling out new features for, video advertisers.
The ad landscape is changing, and a main indicator is the opposite trend lines for online video and television. Two different reports put this into stark contrast. A new report from Forrester finds digital video ad spending growing 21% annually, and a Standard Media Index survey found TV ad spending down 10% year-over-year, and cable ad spending down 3%. Even though the trend lines are clear, in terms of pure dollar amounts spent, online video has a long ways to go before catching up to television ad spending.
Another trend in video ads is some measure of consolidation between the platforms that broadcasters and publishers use and other platforms used by marketers. Industry experts believe this might eventually lead to lower spending on video ads because tech advancement might reduce waste by allowing marketers to consolidate their ad buys with the convergence of previously different platforms.