Digital video advertising spending in the U.S. 2023

In 2021, digital video advertising spending in the United States was estimated at 55.34 billion U.S. dollars. According to the source’s projections, spending will increase to 78.5 billion by 2023, more than doubling the figure from 2019.

You say goodbye television, I say hello digital video

Moving pictures have captured the attention of audiences and advertisers for decades. Still, ever since the internet made its way into millions U.S. households, the focus has gradually shifted away from traditional analog television. While TV remains a leading source of news and entertainment throughout the country, industry experts also agree that its golden age is slowly coming to an end. According to the latest forecasts, TV ad spend in the United States will not reach the 70-billion-dollar mark for the foreseeable future after having last surpassed it in 2016, 2018, and 2019.

Consumer demand for digital video is insatiable

Social media and prominent video streaming services have fostered the demand for digital video on a global scale. In addition to being able to choose freely from ever-expanding digital video catalogs, audiences are also enjoying the flexibility they get in terms of when, where, and on which device they want to consume the content. Advertisers are tapping into the vast user bases of SVOD and AVOD platforms such as YouTube, Disney+, and Amazon Prime Video to promote their products and services. What is more, marketers are increasingly embracing TikTok and other video-streaming apps that center around user-generated video content and capture the attention of millions of (young) online users each day.