Thanks to the rise of mobile sophistication, faster Internet speeds and a more connected society online, video ad spends continue to grow at a blistering pace. According to an eMarketer report, online video ad spending will reach $4.14 billion, an increase of 41.4% from 2012′s numbers.
The overall spends will continue to grow, with an estimated $9.06 billion dollar spend in 2017. The growth of video ad budgets has plateaued, however, as the saturation point has been hit. The estimated video ad spends drop year-by-year with just 12% of yearly growth in 2017.
Advertisers are flocking to online video because it works. The study shows that online ad-types see higher brand awareness, message association, purchase intent and favorability. The interactivity of various ads help to drive a higher percentage as well as it drives higher online ad awareness and message association:
For more information and the full report, see eMarketer.