Mobile devices are expected to be the primary source of video ad growth for the foreseeable future.
New Findings Reveal Growth
A new study by Forrester Research predicts that 72% of video’s online advertising growth over the next five years will be attributed to mobile. Additionally, video’s overall ad market share is expected increase by 9% and will account for 93% of incremental display ad spend during that same time frame.
These findings come as consumers become more comfortable with browsing videos on their mobile devices and – more specifically – spending time within mobile apps. Interestingly, mobile screen size has also been dubbed a key contributor, as the amount of mobile users using devices with larger screens has increased.
Another significant growth factor has been the amount of time people spend consuming long-form content on their mobile phones. As content quality continues to improve and users show more willingness to spend longer amounts of time watching, advertising revenue gains more value and popularity. This is a continuing trend from last year, which saw the average time spent watching mobile videos grow from 29% in 2016 to 55% in 2017.
The Forrester study makes mention to a couple other trends worth noting, like how instream video ads are making up a huge portion of mobile video share (over 80%) and having a major stake in mobile video’s success.
Marketers were also polled in the study, and more than half of them agreed that in-app ads provide better, more accurate data on their demographics as opposed to mobile web ads.
Looking at the findings above, and taking into consideration that cellular providers are continuing to offer customers higher data plans at lower costs, it’s clear that video content consumption is only going to increase until something even more interactive takes the mainstream.
For marketers who have found success over the years with display – particularly mobile display, it may be prudent to start allocating more spend to video, and focusing on users using mobile apps specifically.
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