Even though digital video is the fastest growing digital advertising category, TV will still account for the vast majority of video ad spend in 2023, according to Strategy Analytics.
The research firm predicted that TV will represent 80% of global video ad spend in 2023 while digital video will make up 20% of spend, with a breakdown of roughly US$210 billion and US$51 billion respectively.
This compares to an estimated global TV ad spend of US$195 billion and online ad spend of US$30 billion this year, with the US accounting for nearly 36% of global TV ad spend in 2018.
“With consumers increasingly watching video across platforms, including mobile devices and connected TV screens, audience measurement agencies are evolving their tools, however, cross-device measurement solutions are still geared towards reach-based metrics, and in a fragmented online world, no media can provide reach better than television,” said Michael Goodman, Strategy Analytics’ director of TV and media strategies.
Nitesh Patel, the company’s director of wireless media strategies, added: “While concerns about brand safety, viewability, fraud, and the impact of GDPR will be address by digital advertisers, traditional TV ad sales will continue to dominate for the foreseeable future.”