According to a report by McKinsey, global digital advertising spend is currently trailing television ad spend by just under $60bn, however forecasts show that the gap between the two is expected to fall to just $2bn by 2019. Although, television own 88% of all video viewing, more people are now watching videos on YouTube and streaming networks, contributing to the 102% increase in global viewers this year. The study also found that while TV ads have been losing market share over time, online video has grown at an even faster rate.
According to a report by McKinsey, global digital advertising spend is currently trailing television ad spend by just under $60bn, however forecasts show that the gap between the two is expected to fall to just $2bn by 2019. Although, television own 88% of all video viewing, more people are now watching videos on YouTube and streaming networks, contributing to the 102% increase in global viewers this year. The trend towards digital may see more television networks move online, such as happened in Australia when Nine partnered with Fairfax to launch Stan, a streaming service.