A study of video viewing that was just released says online video is the world’s fastest-growing advertising format. MediaPost reports that Zenith’s Online Video Forecasts 2018 determined global viewers spend an average of 67 minutes a day watching online video content.
That number is up from 56 minutes last year, and is expected to rise to 84 minutes by 2020.
“Viewers in China are the most avid, spending 105 minutes per day, followed by Russia (102 minutes) and the U.K. (101 minutes),” MediaPost reports, adding: “Advertisers, naturally, are following these eyeballs. Zenith predicts online video ad spend will reach $43 billion by 2020, up from $27 billion in 2017, and soon will account for 30% of display ad spend. Furthermore, by 2020, Zenith expects online video ad spend to be 23% of the size of television ad spend, up from 14% in 2017.”