Marketers are readjusting their budgets with Cisco’s latest white paper on global Internet provider traffic forecasts predicting an explosion in consumer video on demand traffic
According to Cisco, consumer Internet video traffic will go from 64 per cent in 2014 to exceed 80 per cent by 2019. Consumer video on demand traffic will double by 2019.
As a result, an Interactive Advertising Bureau study has found that two-thirds (68%) of marketers and agency executives expected their digital video ad budgets would increase in the next 12 months.
The extra money spent on digital video would be funded by shifting their spending away from cable and broadcast TV.
Most advertisers agreed that original digital video programming would become as important as TV within 5 years.