Online Video: Going From Strength To Strength In 2017
It’s shaping up to be a very good year for online video with several key indicators showing it to be on a strong growth curve and consolidating its role in media campaigns.
Firstly in GroupM’s Quarterly Tracker (Q1 2017) we have seen a 33% increase year on year for Adults 15+ accessing online players (RTE player, 3player etc.), with 16% now using them on a daily basis. Use of other online video formats (YouTube etc.) is also on the increase with 43% of Adults 15+ using every day.
This growth in usage is also helping to deliver strong revenue increases. IAB Ireland digital investment estimates are reporting growth of 91% in 2016 to €47m for video advertising (note: these figures also include video on social channels). IAB Ireland is crediting this growth to a strong commitment from advertisers to the format and this will no doubt continue with the usage trends shown in the GroupM research.
Finally and most importantly publishers are continuing to invest in their platforms. RTE have announced plans to deliver the next generation of the RTE Player by the end of this year. Their aim is to transform it from “a pure catch-up TV service, to being a world-class live and on-demand online TV and video platform”. To do this they will build on their current offering by adding on-demand libraries, box-sets to cater for binge watchers and exclusive short-form content.
With audience numbers continuing to grow, advertiser support for the medium and enhanced product offering there is only one way for this media to go – up!