• by Wayne Friedman , Staff Writer, Yesterday

Are we missing something in our nonstop, high-profile discussion about streaming taking over linear TV networks?

Let’s not forget that the slow-moving, legacy-media growth of streaming TV is compounded by other digital media still growing quickly -- and not so much under the radar.

Social-media platforms like TikTok, YouTube and Meta are pulling major video advertising dollars to their platforms -- and expanding.

YouTube Shorts is a sharply rising performer for the YouTube platform. Industry estimates put it at 15% of YouTube’s total ad revenue of around $43 billion this year — which means around $6 billion for YouTube Shorts.

Meta’s Reels, for example, is now moving with annual advertising spend trending to be around $50 billion. Looking at the big screen, Reels -- which appears on Facebook -- will get its own smart TV app.

Video ad spending on social media is forecast to rise to $56 billion in the U.S., according to overall projections. Globally, this amounts to around $100 billion to $125 billion overall.

What specific threat is there -- from digital media on legacy TV/streaming? The good news is that "premium" TV content continues to be a different high-valued kind of content. 

Short-form social-media content is a different thing. But engagement of that content -- attached or embedded with advertising messaging -- continues to be a powerful tool that all brands, large and small, continue to buy into.

Think back before Nielsen started up its monthly Gauge and Media Distributor Index -- and where we are now. This is where the rubber meets the road.

TV streaming analysts have only been analyzing YouTube's growth for a few years -- and now also with the heavy presence of big TV screens -- as a competitor to Netflix and  legacy-owned streaming platforms, as well as linear TV networks.

There's no reason to think that Reels, TikTok and other video-centric digital platforms will not make further incursions into consumer video behavior overall -- on the big screen and on other platforms -- connected to business outcomes that brands hold dear to their media plans.