Even with the growth of streaming services, like Netflix and Hulu Plus, there is still a clear boss that traditional media runs the advertising dollar. Strategy Analytics estimates that advertisers in the U.S. will spend a collective $187 billion, and the biggest share – 42% (nearly $79 billion) – is going to TV. Despite many millennials ditching broadcast, cable and satellite television, this is still where a majority of advertising money is being spent… but for how much longer?
Looking again at Strategy Analytics figures, digital will account for 28% ($52.8 billion), and with 13% growth rate this year, it remains the fastest-growing category! According to David Zaleski of iMedia Connection, “there’s a new trend with video that is not seen with any other ad medium – exponential growth in popularity.”
Zaleski gives us two ways we can see how online video is growing.
- The trend of online viewing behavior relative to traditional media – online video users are estimated to hit 1.5 billion by 2016. More viewers mean more advertisers are going to want to get in front of those eyes.
- Expontential growth of mobile video viewing – the smaller format means faster load times and lends itself to short-form content, which is very popular among millennials.
Traditional media is such a juggernaut, it is tough to predict when (if ever) that digital’s share of advertising dollars will catch up. With just about every aspect of our lives pushing toward digital, online and mobile experiences, there will be more people spending more time there and away from TV. It seems like the digital trend will continue and catch with TV.
At Transformation Marketing in Lincoln, Nebraska, our production department can work with you to develop the proper video for your website, TV commercial, or social campaign. Whether your video should be entertaining, informative, funny, or inspiring… we can help you develop the right type to effectively connect with your visitors. After all, ‘it all comes down to trust and results.’
Image courtesy of Strategy Analytics.