You gazed into your crystal ball. And you saw the mad rush. More and more video productions zooming into the web. Well prepare for a bigger rush. Quite possibly with no end in sight.
As eMarketer reports in its esteemed ‘Q2 2015 State of Video’ — spending is soaring for digital video productions. In 2013, video gobbled up 2.4% of ad spend. Now it’s grabbing about 4.4%. And just around the corner is another major push — 68% of U.S. marketers intend to boost digital video budgets in the next year.
So What’s Going On, Anyway?
Viewing habits are spinning in new directions. Look at social media. Once it was invincible. No longer. It all happened so fast. In 2014 social was the king of the attention-getters. But in 2015 digital video grabbed the crown. Currently, users spend an average of 1:55 planted in front of digital video. 1:44 is the average for social. Video also outscores the likes of digital radio and Pandora.
Not surprisingly, Millennials are the hungriest digital video consumers. This is particularly true of the youngest segment of the demographic. According to the eMarketer report, ‘Trailing Millennials’ (aged 14 to 25) watch more digital video than conventional TV. Furthermore, a hefty 72% of this group taps into digital streaming services, more than any other segment.
If you have questions or thoughts about video production for your brand, please leave a comment for our team.
And be sure to reach out to IDR for the latest in video marketing. We’ll help you generate high-quality leads with DRTV, reach online shoppers via DRTV in conjunction with social media, and build your brand with traditional video productions. Contact IDR for a free consultation.