Online Video is Growing!
Online video has been becoming more popular with each passing year. Our Raleigh video production team is excited about it’s growth! It’s becoming so widely accepted, marketing efforts are turning to video more and more. According to CAGR, “Video ad revenue will increase at a three-year compound annual growth rate of 19.5% through 2016. That’s faster than any other medium other than mobile. And much faster than traditional online display advertising, which will only grow at a 3% annual rate.”
Video is Growing! | Raleigh Video Production
Just how quickly is online video growing in popularity? To better help us explain, we turn to BI Intelligence and a report they shared. You’ll find several facts that will help you put the importance of online video and using it for marketing into perspective:
- Newly launched video ad platforms have been among the companies to adopt programmatic tools, including real-time bidding, ad exchanges, and advanced analytics.
- Online video ad revenue will reach nearly $5 billion in 2016, up from $2.8 billion in 2013, while TV ad revenue will decline by nearly 3% per year during the same time period.
- Online video ads are significantly more expensive than other formats, but prices are steadily declining as more publishers rush into video, and placements open up.
- Streaming devices and connected TV accounted for just 2% of online video ad views in the fourth quarter of 2013, but companies like BrightLine are experimenting with formats to grow this new niche market.
- The growth of mobile and digital video advertising has been paralleled by fundamental changes in the online advertising industry — programmatic advertising, which we covered in a recent report, has begun to reshape the entire digital ad market, including video.
- Video ad views exploded in 2013, topping over 35 billion views in December, averaging over 100% year-over-year monthly growth during the year.
- Video ads have an average click-through rate (CTR) of 1.84%, the highest click-through rate of all digital ad formats.
- Viewability, the question of whether video ads are actually seen by multitasking online viewers, has emerged as an issue, but we believe that overall demand for online video is too high for viewability to put too much of a crimp in the video ad market.
If you’re interested in learning more about online video and how it can help your marketing efforts, be sure to visit back with our next blog post. We will have even more information for you.
Raleigh Video Production Can Help Your Small Business Succeed!
It’s important to remember how influential video is today. Everyone wants to watch a video. Whether it’s informational, entertaining, or educational, video is the way of the world. Don’t let your competitor beat you time and time again, because your business isn’t taking advantage of the power of video. Contact our Raleigh video production team at TigerHive Creative Group, soon. We can get started planning your marketing video to help push product and service sales.
If you are interested in getting started with your very own marketing video, be sure to contact us to schedule a consultation. TigerHive Creative Group is here to work with you to make a video that is engaging and compelling.
