Mobile Video The Fastest Growing Digital Format
According to the latest study from the Internet Advertising Bureau UK (IAB), in the first half of 2014, video advertising online and mobile phones grew by a staggering 59% year-on-year to £202 million Mobile video advertising is now the fastest growing digital format, by growing 196% to £63.9 million. This growth is put down to the UK’s population ever growing appetite for watching video content on computers, tablets and mobile phones.
In summary, the following has been extracted from IAB and PricewaterhouseCoopers (PwC) survery:
- Native/content advertising hits £216m – accounts for over 20% of digital display ads
- Mobile accounts for 20% of digital ad spend and 53% of social media spend
- Digital advertising spend up 16.6% to a record £3.5 billion in the first half of 2014
- Video advertising on the internet and mobile phones grew by 59% year-on-year to £202 million
- Mobile video advertising grew 196% to £63.9 million and is now the fastest growing digital ad format
- 73% of Britons online who own an internet-enabled device watched TV programmes online in the last six months
- 72% watched short online video clips
- 59% watched films online
According to Tim Elkington, Chief Strategy Officer at the UK’s Internet Advertising Bureau, “A third of online viewers, particularly 35-44 year olds, are watching more TV, films and clips online than a year ago. Consequently, video now accounts for £1 in every £5 spent on internet and mobile display ads.” He goes on to say “Average weekly viewing online amounts to 25 videos, 4-5 TV episodes and one film but what’s most interesting is that watching video on connected devices is becoming an increasingly social activity, like traditional TV. Half of people watching TV, films or video clips online do so with family members and three in ten watch with friends.”
You can read the full article here.
Is Your Business Using Online Video Marketing?
Following this report, it is clear that online video marketing is a MUST for businesses, however, big or small. So, the question I must put to you, is YOUR business using video online as part of its marketing strategy to get more leads, increase sales and grow your business? If not, why not?
Check out this video about “What is Video Marketing” and discover why you should be using it.