One media channel is on track to grow 80% faster in spend during 2024.

Digital video is seeing staggering growth.

CTV, online video, and social video are all seeing double-digit percentage increases this year.

Ultimately, advertising spend follows the attention.

The IAB released their Video Ad Spend & Strategy report this week and there are some fascinating takeaways within.

You're all busy people so I've summarised my three takeaways below.

The decline of linear TV is only set to increase 📺

With the massive growth in video spend and consumer consumption, social unsurprisingly plays a big part. The everyday person becoming a content creator has meant there are millions of new pieces of content to be consumed every single day.

The shift from linear to digital is very real, with digital video on track to outpace linear TV in ad spend for the first time this year in the US. We're witnessing the rapid evaporation of linear TV viewers for anything that isn't live, and it’s not just the streaming platforms that are profiting.

Programmatic buying isn’t just a trend; it’s the market 🎯

Programmatic buying makes up 75% of CTV buys in the US. What happens there, tends to follow suit elsewhere. Holistic delivery, efficiency and scalability are the name of the game here.

Very soon we'll find ourselves getting to a point where all video, including traditional TV, will flow through addressable pipes, I would bet on cinema following not soon after.

We're slowly moving from idle media metrics to outcomes 📈

Business outcomes are becoming the most important KPI for buyers of digital video. This is a long time coming, we need to show what really moves the needle... especially across digital where billions are being wasted every year.

But causation and incrementality also need to be considered when looking at conversions. It's far too easy for digital platforms to appear as though they're driving outcomes when they’ve just mastered the art of claiming credit. True measurement is understanding if the activity caused or contributed to a sale or was simply an invisible touchpoint along the way.

As always, digital advertising is changing rapidly, with the good, the bad and the ugly.

Advertisers need to make sure they're educated to navigate these constant shifts.

The more you know, the better you can steer your campaigns.

Being reactive won’t cut it.