The Zenith’s Online Video Forecasts 2016 published a report according to which mobile devices are going to become the main platform for viewing online video.
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The projections are that consumers will be spending an average of 19.7 minutes a day viewing videos online via their smartphones and tablets, and 16 minutes on fixed devices (which denotes desktop computers and smart TV sets). This makes for a 39% increase for mobile from last year’s stats. It’s been pretty clear thus far that there’s the popularity of mobile devices is increasing, especially from low-cost devices in lower-income countries. In addition, there’s been an upsurge of improved mobile displays and a bigger demand for high-speed connections like 4G.
“The spread of mobile devices and high-speed connections means consumers will have online video content at their fingertips throughout the day,” said Jonathan Barnard, head of forecasting at Zenith: “This creates new opportunities for advertisers to communicate with consumers, using online video ads to combine the brand-building power of audiovisual advertising with pin-point targeting and personalisation.”
Online video adspend, which was worth $17.5bn (£13.2bn) last year, is forecast to grow at an average rate of 19.8% a year, amounting to an impressive $30.1bn in 2018.
It doesn’t hurt to be reminded that the major rise of mobile video advertising has lead to an increase presence of video platforms, including BridTV, which is currently the only video platform that offers publishers a chance to monetize their videos for free.