Forrester report: Video ad spending anticipated to hit $103B in 2023

Advertisers can spend a staggering $102. 8 billion dollars a year on video advertisements by 2023, according to a recent Forrester report. That number is up from $90. 7 billion this year.

Forrester Analytics: Movie Advertising Forecast, 2018 To 2023 (US)   (free simply by request) analyzed data collected through various sources, including its ForecastView service. Online video includes each free and paid streaming through web-based services, TV networks plus social media.

There are a number associated with important lessons marketers can study from this data.

On-line video is on the rise, but don’ t count TV out however

Online video’ ersus share of ad spending is certainly expected to grow from 21. two percent to 34. 3 within 2032, edging out TV’ ersus share. And the number of online movie viewers in 2018 (200 million) is fast approaching the size of the television audience (258 million).

Interestingly, 81 million will only view video from a TV network’ s i9000 website or app in 2018, but advertisers aren’ t generally there. Only 10 percent of marketers are required to increase their ad spending over 6 percent next year. This simply leaves an opportunity on network sites plus apps.

[Read the full article on MarTech Today.]

About The Author

Robin the boy wonder Kurzer started her career like a daily newspaper reporter in Milford, Connecticut. She then made the girl mark on the advertising and marketing world within Chicago at agencies such as Tribe DDB and Razorfish, creating award winning work for many major brands. For the past 7 years, she’ s worked being a freelance writer and communications expert across a variety of business sectors.

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