ONLINE VIDEO SPEND FOR US BUSINESSES PREDICTED TO REACH $135 BILLION18th Dec 2017
A recent industry study has revealed that the total US online video spend for 2017 is likely to reach a ‘meteoric’ $135 billion.
Interestingly, the report suggests that much of this revenue is being generated by smaller businesses with fewer than 100 employees, collectively spending $122 billion this year. The rest of the predicted revenue will be generated as follows; $9.1 billion by companies with 100-499 employees; $1.6 billion with 500-1000 employees and finally those businesses with more than 1000 employees will spend the remaining $2.2 billion in 2017.
The figures include revenue from:
- Video capture
- Video creation
- Video distribution
- Staffing costs
How online video is growing
All industry experts agree that the rate of growth in the online video sector is growing at an incredible rate. The report also highlights that $71 billion will be spent on TV advertising and an estimated $83 billion on other digital advertising to demonstrate the point that online video is reaching new heights.
It has been recognised that 84% of marketing professionals will work on more business video next year than this year, and a surprising 60% of businesses spend around 25% of their advertising and marketing budget in video. This shows, according to the experts, that businesses are continuing to explore the latest methods to reach their target audiences, even though the rules and regulations are continually changing and updating.
Companies are realising that brand engagement and customer relationship management is critical in today’s online video marketplace. Video is consistently meeting the needs and wants of consumers, and businesses are becoming increasingly aware of the unique opportunities available to them to connect with those future clients. Businesses are doing this every day. They aren’t just producing a few online video broadcasts, 56% of them are doing it weekly and 26% are delivering content on a daily basis.
How The Streaming Company can help
The Streaming Company works with our clients to deliver high-quality, low latency online video streaming where businesses need it most. Our customers enjoy our solutions to provide corporate communications, live sporting events, e-learning, mobile solutions and much more.
Contact us to find out more, or visit our dedicated solutions pages, and let us show you what we can do.