The rapid rise in video viewing makes online video the world’s fastest-growing advertising format with global viewers spending an average of 67 minutes a day watching content, up from 56 minutes last year and projected to reach 84 minutes by 2020, according to Zenith’s Online Video Forecasts 2018, states a media report that added that viewers in China are the most avid, spending 105 minutes per day, followed by Russia (102 minutes) and the U.K. (101 minutes).

According to MediaPost, advertisers, “naturally, are following these eyeballs. Zenith predicts online video ad spend will reach $43 billion by 2020, up from $27 billion in 2017, and soon will account for 30% of display ad spend. Furthermore, by 2020, Zenith expects online video ad spend to be 23% of the size of television ad spend, up from 14% in 2017.”

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