In 2020, digital video ad spending exceeded TV ad outlays for the first time in Canada. Digital video gained the most momentum of any format amid the pandemic last year, growing by 10.0% year over year (YoY). This includes both in-stream video formats (e.g., YouTube ads) and those outstream (ads appearing in social media feeds).
Time spent with video was certainly higher in Q2, and we expect average daily minutes to return to previous levels for the balance of the year when restrictions are eased. Next year, we expect digital video time to be 1:44 daily. Over-the-top (OTT) streaming services account for a huge portion of videoconsumption.