A new report suggests the average person will spend 100 minutes each day watching online video by 2021.
According to Zenith’s Online Video Forecast 2019 report, the number will increase to 100 minutes from the current 84.
Sweden and China have the most active online video viewers according to the report, with the average person in each country expected to spend 103 minutes a day watching online video this year. These are the only countries where online video viewing exceeds 100 minutes a day, but by 2021, Zenith expects the UK, Canada, India, Mexico, and the US to reach that figure.
“The consumption of online video is growing rapidly, and the average person will spend half as much time viewing online video as they spend viewing conventional television this year,” said Jonathan Barnard, head of forecasting at Zenith. “This fast-expanding supply of audiences is fuelling rapid growth in demand from advertisers, making online video the fastest-growing digital channel by advertising expenditure.”
Zenith forecasts that advertising expenditure on online video will rise from $45 billion this year to $61 billion by 2021, at an average rate of 18 per cent a year (compared to 10 per cent a year for internet advertising as a whole). Television ad spend is forecast to shrink from $183 billion to $180 billion over the same period, as ratings continue to drop in key markets.