Despite shifting consumption habits, TV will still take 80 percent of global video ad spend in 2023, according to Strategy Analytics.
Major advertisers have shifted ad spend away from digital advertising towards TV, audio and e-commerce, the research group found, as brands are increasingly concerned about digital advertising’s lack of efficiency.
“With consumers increasingly watching video across platforms, including mobile devices and connected TV screens, audience measurement agencies are evolving their tools. However, cross-device measurement solutions are still geared towards reach-based metrics, and in a fragmented online world, no media can provide reach better than television,” said Michael Goodman, director of television and media strategies at Strategy Analytics.
“While concerns about brand safety, viewability, fraud, and the impact of GDPR will be addressed by digital advertisers, traditional TV ad sales will continue to dominate for the foreseeable future,” added Nitesh Patel, director of wireless media strategies.
According to Strategy Analytics’ Global Advertising Forecast 2010-2023, global TV ad spend this year will top $195 billion, rising to $210 billion by 2023. About 20 percent of that spend will be on digital video on a global basis. The U.K. will lead in digital video ad share, at 44 percent in 2023, followed by the U.S. at 30 percent and China at 27 percent.