Online videos are both ubiquitous — only a couple of taps away on your smartphone — and hard to resist. That goes not just for consumers but also for the companies that want to sell to them. The upshot is that more advertising money is moving into online videos — and TV, film and entertainment incumbents are scrambling to get a piece of the action.
According to technology research firm Omdia, the Big Four tech companies — Alphabet, Amazon, Meta and Apple — will this year gobble up 68 per cent of the nearly $500bn in revenue that companies, excluding those in China, are expected to generate from online advertising.
Online video marketing is the fastest-growing segment in the booming world of digital advertising, and Omdia estimates that more money will be spent on video-based campaigns than on those attached to text-based articles or search results by 2025.