Video ad spend to nearly triple over next four years
Published July 06, 2011
While search and display advertising will continue to lead digital marketing expenditures, video advertising is expected to become a more relevant format, a new eMarketer report indicates.
In 2011, advertising agencies are expected to spend $2.16 billion on video promotions. By 2015, this number is expected to jump substantially, growing 229 percent to $7.11 billion. If eMarketer's projections are correct, online video advertising will be the No. 3 digital marketing channel, trailing only paid search and display.
"Video advertising continues to attract new ad spending from brands because it generates greater audience attention than other digital ad formats," said David Hallerman, eMarketer principal analyst. "Still, its influence far outpaces its ad dollars."
During the same time frame, paid search and banner ad expenditures are expected to leap to $21.53 billion and $11.73 billion, respectively.
Cruise brand Carnival recently leveraged online video as a part of its social media marketing efforts. The company recorded and uploaded interviews with ship captains so prospective customers could get to know them a little better before embarking on their vacation.