And it’s not stopping! While Facebook takes a massive piece of the video advertising pie, it will expand with double-digit growth.
While online video ad budgets are growing quickly, online video viewing is growing at an even faster rate. A glut of inventory means prices have been coming down.
More cord-cutting leads to lower TV viewing numbers, which leads to fewer advertisers buying ads and lower TV ad spending for years to come.
Smaller companies are gaining on the big two, slowly eroding the formidable stranglehold Google/Facebook has on digital dollars.
Sales are surging for mobile video especially, but Magna says paid services are a concern: People are increasingly willing to pay to avoid ads.
According to a Zenith advertising forecast, online video will grow by an average of 17 percent for the next 3 years.
The good news is that programmatic and addressable ad buying for TV are showing huge percentage gains. The bad news is that both are still extremely small areas.