U.S. connected TV users reached 182.6 million in ’18, comprising 55% of US population. This area will continue to grow as we work to create an urgency about how to follow the consumer from traditional TV to OTT. Learn more in lAB Video Landscape Report (attached).
Key points from the report –
- Video delivery and consumption is more crowded than ever
- Video viewing accounts for the biggest share of daily media time spent, digital video viewing time increases YoY
- Mobile video is taking a greater share of total digital video consumption and it continues to grow
- TV ad spend remains dominant but it has peaked. Digital video ad spend is exhibiting a fast revenue growth rate.
- Nearly 60% of marketer’s digital advertising budgets are allocated to digital video
- Mobile video outpaced desktop video revenue for the first time in 2017
Growth opportunities and trends (more in the report) –
- Cross-platform video buying including both TV and digital video shows significant YoY increase
- Programmatic spending is dominant within digital video, but accounts for only smal portion of OTT
- Addressable TV scales up to 64 million households, nearly half of all pay TV households
- Addressable TV ad spend will exceed $3 billion by 2020
- Over half of OTT/CTV viewership occurs on the big screen
- Media industry continues to experiment with VR etc. to capture consumer attention
- AR is growing, likely in your pocket right now!
- New formats including vertical video are increasingly embraced by industry
- Live streaming video is now mainstream across the world
- Research shows that the first 5 seconds of an ad gets the most attention
Please read through the detailed report here IAB_Video_Landscape_Report_2018-12 which also outlines challenges & solutions! Happy reading…