Mobile video consumption is steadily eclipsing TV and desktop screen share into 2019 – and video ad dollars are following suit. Video ads on mobile devices are already expected to exceed $29 billion globally this year. But a new report from PubMatic, a global ad publishing platform, has found that nearly 50% of video ads were viewed on a mobile device – up from 40% in 2018. If growth continues at this rate, mobile devices are slated to become the preferred platform for video ad placements by the end of the year.
Mobile and video: perfect pairs. While the leap in video ad spend isn’t a result of mobile alone, mobile devices continue to devour ad dollars and attract impressions – so it’s not a surprise that video mirrors the growing trend. Mobile spend flowing through PubMatic’s platform in the first quarter 2019 increased 29% from 2018. Likewise, mobile impression volume saw a steep increase, growing 35% from the year prior.
Why we should care. The surge in video ad spend – particularly across mobile – highlights the impact of more efficient technology and rapid data speeds. With faster connections and 5G technology looming on the horizon, users, advertisers and publishers are increasingly leaning on mobile to usher in powerful, interactive content in the form of video.
Nonetheless, advertisers should recognize that mobile video formats aren’t the universal solution for all brands, despite the uptick in consumer trends. For brands looking to lift sales or build awareness, advertisers need to identify audience behaviors and deliver campaigns in line with consumer engagement.