The video ad business is booming the US, with spending expected to grow 30 per cent this year to $27.82 billion, an eMarketer forecast released Tuesday showed.
Video ads will account for a quarter of overall digital ad spending this year, the market tracker predicted.
Facebook, including its Instagram messaging service, was expected to rake in nearly a quarter of all money spent on video ads with the amount tallying about $6.8 billion.
"A newer video ad format, in-stream advertising in Facebook Watch shows, is still relatively new, but we think advertisers will increase their usage of it because it is similar to linear TV advertising." Video ads will account for more than half the revenue at Twitter and Snapchat this year, according to eMarketer.
The market tracker said paid video ads appearing in feeds, games and apps on social platforms were included in the forecast.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)