Strong growth predicted for video ads
Global digital advertising growth is expected to accelerate to about 18% year-over-year during 2021, up from about 10% growth in 2020. It will continue to show annual growth in the low double digits over the next five years. Video is forecasted to continue having the strongest growth, according to New York-based financial services firm Cowen’s Ad Outlook report.
Video is predicted to continue being the fastest-growing form of digital advertising, up about 15% annually over the next five years on a global basis, according to a summary by the company´s Internet Analyst John Blackledge.
56% of buyers in the company´s survey said mobile video ads are more effective or equally effective as TV for brand messaging.
60% of buyers said that their ad spending was below normal in 2020 because of pandemic, and 80% said they still spend below normal levels. About half of those ad buyers expect normalized spend by mid 2021 while the rest think it will take until the start of 2022.
Google and Facebook will account for a combined 27%, on average, of global digital spend by 2022. But Amazon is expected to have strong growth with the company´s share of US digital ad spend to increase from 7% last year to 11% in 2022.
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