As one of the most powerful advertising mediums, videos have enjoyed a terrific 2014. And as hot as they are, there are many reasons to believe that they're going to have an even stronger 2015. As they become more and more prominent, video advertisements are going to grow even more vital for businesses.
Here are some of the biggest reasons that videos are going to explode in 2015:
The Major Sites Are Becoming Even Friendlier for Videos
Facebook and YouTube are two of the most popular websites in the world, and both are prime real estate for advertisements. In 2015, both are set to become even friendlier for video ads.
Facebook was originally hesitant to rollout fully integrated video advertisements. They worried about users becoming aggravated by video ads playing as they scrolled through their feed. To counter this, they priced video space incredibly high, making video ads scarce- and reserved for only the largest of companies.
As video ads become more integrated and accepted on Facebook, however, prices will inevitably come down. This will lead to an explosion of video ads on Facebook.
YouTube, on the other hands, has already fully embraced video advertising. And data shows that digital video spend is going to increase over 30% in 2015 versus 2014, up to almost $8 billion. Businesses that don't begin investing in videos will quickly get left behind.
Traditional Mediums Are Dying
It's not surprising that traditional mediums like television and newspapers are dying, but the numbers are staggering. Over the last three years, Americans in the key 18-24 demographic are watching 6.5 less hours of TV each week - almost one hour each day!
Streaming services, however, grew rapidly: 388% growth year over year. Considering that in 2015 HBO plans on launching HBO Go as a stand-alone service and Netflix wants to continue churning out exclusive content, it's unlikely that the growth will slow.
It's clear that the future lies in the Internet and streaming services. And the future of advertising in these mediums lies in videos.
Like trees in the fall, old advertising mediums are slowly dying out!
Smartphone Usage is Growing
The increased availability of affordable Internet-enabled phones and mobile coverage has led a continued growth in smartphones. As slower-adapting regions like the Middle East and Africa begin to grow, however, total usage is poised to explode. In fact, experts predict that smartphone users could grow from 1.75 billion users in 2014 to 5 billion users in 2017!
This significant increase will begin in 2015, and will have a major effect on video advertising. Video advertising is already the quickest-growing advertising medium, and is expected to grow by over $1.2 billion from 2014 to 2015 alone.
Even grandmom and grandpop have smartphones and tablets!
It's clear that 2015 is going to be a major year for online video advertising. Without acting quickly, many businesses may get left behind and never be able to recover. Luckily, Blue Wave Marketing offers a wide variety of video advertising services - including a free assessment! Make sure to contact us today to learn more by clicking here!