eMarketer estimated that U.S. digital video advertising will total $7.77 billion in 2015, up 30.4 percent from 2014, with 20 percent of those dollars going to YouTube, and the researcher also cited a report by Cisco Systems last June, which projected that video would account for 80 percent to 90 percent of global consumer Internet traffic by 2018.
eMarketer principal analyst Debra Aho Williamson, author of the report, said of the prospects of Facebook overtaking YouTube:
While Facebook has grown quickly as a video platform, there are many reasons to think YouTube will continue to be a favored video advertising destination for marketers, and that Facebook’s entry could help grow the overall video market, rather than take away from YouTube.
But Facebook isn’t the only player in the game, as the introduction to the eMarketer report points out:
Facebook isn’t the only one angling for a slice of the video advertising pie. Twitter is beta-testing Promoted Videos, Instagram is rolling out video advertising and Tumblr and Snapchat have new video ad products.
Social properties provide a different viewing experience than YouTube or a TV network’s streaming player. A key differentiating element is the ease with which users can share and comment.
The ALS Ice Bucket Challenge typifies this difference. It showed that Facebook users were not only willing to upload video of themselves being doused with ice water, but also that they would use Facebook’s sharing and tagging features to encourage others to view and participate.
Readers: Will YouTube ever lose its grip on the top spot?
Image of green video play icon courtesy of Shutterstock.