New Forecast Predicts Mobile will Drive 72% of Growth in Online Video Ad Spend
Forrester research has conducted a new forecast about the mobile ad market.
The forecast has predicted that mobile devices will be the main driver of video ad growth within the next five years.
This will be due to U.S. consumers continuing to change their viewing habits towards smartphones and tablets – this was originally discovered in a study by Forrester Research and shared with Mobile Marketer.
According to Forrester, mobile is estimated to account for 72% of the growth in spending on online video advertising. Its share of the online video ad market is also estimated to grow from 50% this year to 59% by 2023.
Smartphone users are also apparently becoming more comfortable with viewing online video as the share of mobile screens has increased.
The forecast continued with stating that growth drivers include more time spent watching long-form content on smartphones. This trend has continued as it saw mobile’s share of online video time grow from 29% in Q1 in 2016 to 55% in Q1 in 2017.
The quality of video is also expected to improve and viewers are more likely to be engaged with longer-form content – two trends that will appeal to marketers, Forrester claimed.
Chloe is a reporter at Global Dating Insights. Originally from Bracknell, she is studying Communication & Media at Bournemouth University. She enjoys writing, travelling and socialising with her friends and family.