Zenith report reveals growth in online video viewing

Zenith report reveals growth in online video viewing

The average time spent watching online video is growing – and it’s impacting how brands plan campaigns, according to Zenith’s Online Video Forecasts 2018, published today.

People will spend an average of 67 minutes a day watching online video this year, up from 56 minutes last year, and by 2020 the average person will be spending 84 minutes a day watching videos online (sad!).

In that year, China will lead the ranks, with the average person spending 105 minutes a day watching online video, followed by Russia (102 minutes) and the UK (101 minutes).

“Online video is driving growth in global media consumption, as smartphones with high-speed data connections make high-quality video available to people on the move, and smart TV sets give viewers unparalleled choice in the living room,” said Jonathan Barnard, Zenith’s head of forecasting and director of global intelligence.
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“The rapid rise in video viewing makes online video the world’s fastest-growing advertising format, creating new strategic and creative opportunities. Brands that do not currently have a strategy for online video need to think about getting one.”

Zenith describes online video as all content viewed over an internet connection, including broadcaster-owned platforms, ‘over-the-top’ subscription services like Netflix, video-sharing sites, and videos viewed on social media.

Global online video consumption grew by 11 minutes a day in 2017, and Zenith expects it to grow by an average of 9 minutes a day each year to 2020. It accounts for almost all the growth in total internet use, and is growing faster than media consumption overall, so it is taking consumption time from traditional media, Zenith said.

Zenith estimates that online video adspend grew 20% in 2017, to reach US$27bn. Growth peaked at 36% in 2014 and has fallen steadily since then, but still remains very high. Zenith forecasts 19% growth in 2018, and an average of 17% annual growth to 2020, when online video adspend will reach US$43bn.

Natalie Cummins, managing director, Zenith UK, Added: “As video is viewed more and more on a phone and not a TV, brands and agencies need to consider native video, created for the platform, and not just adaptation.

“As ever, it’s right message, right person, right place, right time. That ‘rule’ doesn’t change, even when the place and the message are changing at pace.”

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