Online video advertising to grow 26%

New Ideas in MarketingEssential news for marketers, summarised by YouGov
July 27, 2021, 2:12 PM GMT+0

In 2021, the US online video ad spend will account for 46% of the $67 billion added to the global ad market, as per Zenith’s recent forecast.

Online video advertising is expected to grow 26% to $63 billion in 2021, owing to the growth of streaming services and linked TVs. In addition, global advertising spend will surge by $40 billion, or 11.2%, powered by online video and performance-driven ecommerce advertising.

While Global advertising spend will reach $699 billion, digital advertising will climb 19%, increasing its share to 58%. While TV ad spends worldwide is predicted to fall 8% this year, it is expected to decrease 4% in the US to $60.6 billion.

In 2022, social media is predicted to expand by 13%, while a search is expected to grow by 12%. China (11%), UK (6%), and Japan (6%) are the other top contributors to worldwide ad spending.

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