Video advertising has grown in popularity over the years, with many marketers using it to promote their products. However, there are still some companies that neglect this form of marketing. We will discuss some video advertising statistics you should know in 2024.
For years, video advertising was considered the “new frontier” of digital marketing. And while that might still be true in some respects, it’s surprising how quickly newer forms of content have taken over. There are many ways to engage with consumers nowadays, from live streaming to podcasts and beyond, so why would you want to focus solely on video? This article explores four statistics about today’s most popular types of content for marketers to remember when deciding on their next campaign.
Surprising Video Advertising Statistics You Should Know in 2024
- Video advertising is predicted to account for over 85% of all digital ad spending by 2024
- The average video ad view time is 2x higher than the middle banner or text ad
- People are twice as likely to remember a brand after seeing an online video advertisement
- By 2024, video ads will make up 74% of all digital ad spend
- Video advertising is the fastest-growing segment in digital advertising and is expected to account for more than half of total ad spending by 2020
- The average viewer watches 1 hour and 22 minutes per day on mobile devices
- The moderate video ad is watched with 100% attention for six seconds, compared to the 3-second average for traditional ads
- YouTube’s top advertisers are Nike, Adidas, and Mercedes-Benz
- People who watch a video about a product are more likely to buy it than people who don’t
- In 2024, digital video advertising will make up over half of the total global ad spend
- Video ads are more effective than other types of advertisements because they can be watched without sound
- The average person spends 2 hours and 45 minutes with videos on their phone every day
- More than 50% of people watch YouTube at least once a week
- Mobile devices now account for 62% of all time spent watching video content
- By 2024, video advertising will account for over half of all digital ad spending
- In the same year, mobile ads will make up 60% of all video ads
- By 2020, there will be 3 billion people with smartphones and 2 billion with internet access worldwide
- Video views on Facebook have increased by more than 100% in just one year
- The average person spends 8 hours a day consuming media
- The average length of a video advertisement in 2024 is 2 minutes and 22 seconds
- Video advertisements are most effective when they’re between 10-20 seconds long
- 70% of people who watch a video advertisement will remember the product advertised two days after viewing it
- The average cost of a video ad is $0.07 per view
- For the first time in history, the number of people watching videos on their phones will exceed that of watching videos on TV in 2024.
- In 2024, over 50% of Facebook users will view video content daily.
- By 2020, YouTube will have 1 billion monthly active users and 2 billion unique visitors each month.
- By 2024, the average person will have watched over 500 hours of video on their phone.
- The number of people who watch TV on a typical day has decreased by 9%.
- Video ads are more than twice as effective at driving sales as static ads
- People who view an advertisement for a product they’ve already seen before are 2x more likely to buy it
- By 2024, it is estimated that there will be 2 billion video ads per day
- In 2021, the average person watched 8 hours and 27 minutes of videos each week
- The majority of people who care about video ads are Millennials aged 18-34
- Video advertising generates $12 for every dollar spent on Facebook, YouTube, and Instagram combined.
- By 2024, video advertising will account for over 50% of all internet traffic.
- Video ads are more effective than banner ads in driving conversion rates
- Video ad spending is expected to grow by 25% in 2024
- Mobile video viewing time is projected to increase by 4x from 2017-2024
- In 2020, video advertising will account for 73% of all digital ads
- Video ads are 4x more likely to be viewed than non-video ads
- Mobile video is the fastest-growing form of online content, and it’s predicted that by 2024, over 85% of mobile data traffic will be made up of videos
- The average person spends 3 hours a day watching videos on their phone or tablet
- In 2024, the average person will watch 3 hours of video content a day
- More than 50% of people who use Facebook will see more video ads in their newsfeeds
- Video advertising is projected to grow by 70% from 2020-2024
- There are over 4 billion mobile devices with screens on Earth, and this number is expected to double by 2024
- By 2024, online video advertising will account for around half of all digital ad spend
- The average viewing time on a mobile device is more than twice as long as the desktop
- In 2020, there were 1 billion active monthly viewers on YouTube
- More than 10% of YouTube views come from ads that are watched with sound off
- Video advertising will make up more than 50% of all online ad spending by 2020
- By 2024, video ads will be the most common type of digital ad seen on mobile devices
- Brands that use video as their primary form of advertising see a three times higher engagement rate than those who don’t
- In 2018, 85% of companies were using videos for marketing purposes, and it is expected to hit 95% in 2020
- In 2020, video ads accounted for 74% of all internet ad spend
- By 2024, the average viewer will have been exposed to over 100 million videos on YouTube alone
- Ten years ago, only 3% of people watched TV and used the internet at the same time; by 2021, that number increased to 50%
- Video advertising will account for 85% of all digital ad spending by 2024
- Mobile video ads will account for more than half of all video advertising in 2024
- YouTube has over 1 billion unique visitors every month, and it’s the second most-visited website in the world, behind Google.
- Video ads are the most engaging form of advertising
- Advertisers are shifting their budgets from TV to video ads
- There will be a significant increase in mobile video ad spending over desktop videos
- More than half of all digital media time will be spent on mobile devices by 2024
- Video advertising will account for 82% of all digital ad spending by 2024
- The average video ad is watched with a 60% completion rate, which is far higher than the industry standard of 10-20%
- In 2018, there were over 200 billion videos viewed on Facebook every day, and it’s projected to be 400 billion by 2020
- Marketers who use video ads increase their conversion rates up to 3x as much as those who don’t
- Video advertising will account for more than half of all digital ad spending in 2024
- YouTube is the largest video platform, with over 1 billion users and 8 billion hours watched per month
- Facebook’s CPMs are lower than other platforms because it has a higher percentage of mobile views
Conclusion:
Video advertising is predicted to grow from $20 billion in 2020 to $100 billion in the next five years. This rapid growth will only continue if brands and marketers take a data-driven approach to producing videos for their campaigns. Why not contact us today? Our team of experts can help you create a digital marketing strategy incorporating video advertising into your current SEO or PPC campaign with little effort!
Since 2017, we’ve been helping businesses achieve better results by providing customized video ad solutions tailored to their needs. Whether you need high-quality pre-rolls, personalized web banners, or any other ad placement, we have just what you need at prices that fit your budget.
Video advertising is an essential aspect of any marketing strategy. While it can be intimidating to try, the benefits are worth the effort. We’ve compiled some video ad statistics that may help you feel more confident about this digital medium for your business or at least make you think twice before dismissing it as a viable option. Contact us to learn how we can help with our expertise and knowledge in video advertising and content production!
