Video marketing continues to be on the rise in the digital space. From producing videos to distributing and promoting them, the U.S. digital video marketing industry is expected to reach $135 billion this year, according to a new study by mobile video platform Magisto.
Forbes writer, Kathleen Chaykowski states, “The 2017 estimate — which includes the cost of video capturing, creation, hosting, distribution, analytics and staffing — is sizeable and would make video marketing nearly as large of a market as digital and television advertising combined. By contrast, advertisers are expected to spend $83 billion on digital ads and $71 billion on TV commercials (a total of $154 billion) in the U.S. this year. On average, each American businesses will spend $20,000 on video marketing this year, the study predicts. Magisto, which is based in Menlo Park, Calif. and makes a web-based video editing tool, published its study on Wednesday based on voluntary, anonymous responses from 545 marketing decision makers at small, medium and large U.S. businesses, surveyed this summer.”
Read the full article to see what platforms companies are using to spend their advertising dollars!