Global digital video advertising revenues are climbing at a much faster rate than traditional TV -- but it still has a long way to go to surpass worldwide TV advertising.
By 2023, global digital video advertising will rise to a 19.5% share of all worldwide video spending -- up from 13.3% this year, says Boston-based Strategic Analytics.
Traditional TV advertising revenue will near 80.5% share, down from a 86.7% share.
Also by then, worldwide traditional TV advertising spend will grow 8% to $210 billion, from $195 billion this year. At the same time, digital video advertising will rise almost 70% to $51 billion from $30 billion by the end of this year.
For 2018, the U.S. will maintain its top spot with the largest piece of global traditional TV advertising revenues -- a 36% share -- just over $70 billion.
In 2023, U.K. marketers are forecast to spend $67.27 per person on digital video advertising versus $65.76 in the U.S.
The research company says traditional TV will continue to make gains through multiscreen access and OTT distribution. Helping this along are marketers' concerns about “digital advertising’s lack of efficiency and concerns over brand security and fraud.”