Video is expected to be one of the main avenues for digital ad spending growth in Canada in coming years, and research suggests the youngest adults are watching the most. Millennials watch about three times as much digital video as boomers, for example—and even more among the youngest viewers.
Research from Media Technology Monitor found that digital video viewers ages 18 to 23, dubbed Generation Z by the research firm, watched nearly 10 hours each week of digital video, compared to 6.6 hours per week for members of Generation Y, older millennials. Boomers, by contrast, clocked just 2.3 hours of digital video viewing weekly, one-third the amount of even the older Generation Y group.
Both PricewaterhouseCoopers (PwC) and ZenithOptimedia forecast online video ad investment totaling more than CA$200 million in 2013. Both firms expect video ad spending will reach CA$400 million in 2015.
Canada is among the global leaders in online video penetration. Acceptance of video advertising in the country is commensurately high. Data from in-stream video advertising company AdoTube placed Canada at the top of its list of online completion rates in select countries studied for standard pre-roll ads in 2012, with 68% played to completion. (Rates for the US and the UK were at 66% and 63%, respectively.)
But despite consumer openness to video advertising in Canada, advertisers lag those of other similar video-adopting nations. Growth figures show a changing picture, however. “We’re quickly catching up in advertiser support of online video,” said Ryan Ladisa, vice president of sales for Canada at Videology. “The analytics are there to prove that you can make up for lost reach with online video compared to TV.”
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