By Over the past six years, brands and companies worldwide have spent almost $760bn on video advertising. The amount of money spent on video ads per year has jumped nearly five times in this period, rising from $35.5bn in 2017 to $176.6bn last year. And while the global video ad spending is set to grow by another 8.3% and hit $191bn in 2024, the gap between mobile and desktop video ads remains wide.
According to data presented by OnlyAccounts.io, global spending on desktop video ads is expected to drop by 1.4% to $53.7bn in 2024, marking the third consecutive year of decline.
Spending on Desktop Video Ads to Continue Falling by 2028
Desktop advertising has been losing race with mobile ads for a while now, and video ads are no exception. Mobile video ads are far more convenient, accessible, and shareable option than their desktop counterparts. Plus, nearly 60% of all multi-device purchases today are being closed on mobile. And while marketers continue pouring more and more money into mobile video ads, the desktop video ad segment is facing its third year of decline.
According to a Statista survey, between 2018 and 2021, global spending in the desktop video ad segment jumped from $18.8bn to $55.6bn. However, the annual growth rate practically halved in this period, falling from 43.1% to 24.6%. A year later, a downsizing trend turned into the first-ever decline, with desktop video ads bringing in $54.3bn, or 2.3% less than in 2021.
Statistics show revenues stagnated in 2023 and remained around $54.3bn. However, 2024 is set to witness another decline, with total ad spending falling by 1.4% to $53.7bn. The following years are set to witness an even bigger ad spending drop, falling by an average of 2.5% per year to $48.5bn in 2028.
On the other hand, the mobile video ads segment will continue growing but at a much slower pace than in previous years. In 2024, brands and companies worldwide will spend almost $138bn on mobile video ads, or 12.6% more than last year. Although Statista expects total spending on mobile video ads to jump to $193.4 by 2028, the annual growth rate will slip to 7.5%.
Desktop Video Ads to Make Only 20% of Total Video Advertising Revenue by 2028
As a more convenient, accessible, and shareable option than their desktop counterparts, mobile video ads have the lion’s share in global video advertising revenue, and their market share is expected to continue growing in the following years.
According to Statista, mobile video ads will make up 72% of total video advertising revenue in 2024, or 2% more than last year. By 2028, their revenue share is expected to jump to 80%. On the other hand, the desktop video ads segment will significantly decline, with its revenue share falling from 28% to only 20% in this period.
