According to Jack Myers Media Business Report (subscribers can see the full report), digital-originated ad dollars will increase by 70% in 2013 to an overall business of $2 billion, and online video advertising from broadcast networks will increase by 40%, despite a decline of 2% in overall TV/video media spending. 2013's projected $2 billion for online-originated content is a far cry from the $350 million in 2010. My, how far we've come. As more and more people watch TV/video content online, on demand, on their mobile phones, and so forth, the money has started to flow towards that media.
Jack Myers TV/Video Advertising Forecast
Here's Jack Myers discussing his findings:
This is obviously good news for the online video community as TV dollars start sifting into digital content and giving them a slightly bigger piece of the pie.
One thing that might get lost in all this is the 6-7% increase in the Hispanic market that Myers mentions. One of the things that I've noticed and written about a lot over the past couple of years mentions how it's good for business to be able to appeal to as wide an audience as possible. Awhile back, we talked about an interview YouTube's Lucas Watson had with Beet.tv, in which he mentioned how much demand there was for Hispanic programming and being able to create content for them was in everyone's best interests.
Just another reminder for everyone that online video is here to stay, and growing.
Don't Miss Any Stories!
Get daily online video news, tips and trends via email!