The global market is projected to be worth $47 billion by 2023, almost double its 2018 value. China is leading the market for advertising on video-on-demand services (also known as streaming), with brands expected to spend $8 billion in 2018
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The global market is projected to be worth $47 billion by 2023, almost double its 2018 value. China is leading the market for advertising on video-on-demand services (also known as streaming), with brands expected to spend $8 billion in 2018
Facebook may be a latecomer to the streaming video market, but the company thinks it can generate money by making it more social. "Video has always been social, even before the internet, when everybody was watching the same few channels," said Fidji Simo, Facebook's head of video, in an interview. "Everyone was talking about their favorite shows around the water cooler." For Facebook, the challenge is not to mimic Netflix or YouTube, which have built successful models on the backs of consumers who binge watch, but to get people to watch shows together again, even when they're viewing from their phones or other personal devices. "We can do that because all of your friends are on Facebook," Simo said. There's a ton of money at stake. While digital advertising is increasing, brands only spend about $13 billion a year on online video according to Andy Fisher, chief analytics officer at marketing agency Merkle. Meanwhile, $70 billion a year in the U.S. is still spent on TV ads, said eMarketer.
The "T-Series" YouTube channel currently has the second-largest subscriber base on the site, with over 59 million and growing. What's more, it's growing faster than PewDiePie, with T-Series adding roughly 141,000 new subscribers each day on average, versus 29,000 new daily subscribers for Kjellberg, according to social media tracking site Social Blade. If those growth rates hold steady, then T-Series would catch up with PewDiePie by the end of October, ending Kjellberg's five-year reign as the YouTuber with the most subscribers. T-Series is an Indian music and film production company based in New Delhi. Most of the channel's video posts are Bollywood-style music videos featuring Indian pop stars. The most popular video on T-Series' channel, for the song "Lahore" by singer Guru Randhawa (embedded below), has more than 559 million views over the past eight months.
