Video advertising: coming up in many shapes and sizes
The most used video types in global marketing communication were testimonial videos and explainer video, while YouTube was the top global video platform worldwide, with nine out of 10 marketers saying they used it for marketing purposes. Marketers also deemed the Google-owned platform to be the most effective video marketing channel. Similarly, Instagram and TikTok have also become fertile video marketing grounds. Influencer marketing is as profitable as ever, and while photos with product placements used to be the blueprint, videos are drawing the attention of users much more effectively, as the global TikTok sensation has shown. TikTok’s global ad spending has been making leaps every year and is showing no signs of slowing down; the Chinese giant is expected to account for almost 40 percent of the total global video advertising revenue by 2027.CTV advertising revenue worldwide is expected to almost double between 2022 and 2028, as more and more viewers ditch linear TV in favor of devices connected to the internet. Given CTV’s rising appeal both in advertising and entertainment, it comes as no surprise that eight out of 10 marketing professionals were expecting to increase their spending with CTV ads in 2022.
CTV’s winning streak notwithstanding, linear TV itself is experiencing a resurgence in the form of streaming. Free ad-supported streaming TV (FAST) has been rising, as more viewers cut the cord from subscription-based services such as Netflix and Disney+, due to increasing subscription fees in uncertain economic times. FAST ad spending worldwide (1411468) was projected to increase threefold between 2022 and 2028, reaching 18 billion dollars in the latter year.
