YouTube Shorts is primed for the TikTok fallout – but is your brand?
Despite the events surrounding the US Government’s ambitions for TikTok, there is a wider media trend proliferating within short-form video. Simmering in the background is the growth of rivals, primed for any fallout.
Brands in this country should already be planning and strategically reviewing their approach to short-form video. Taylor Fielding, managing director of TFM Digital, explains more.
According to Statista Media, spending on Short Form Video in Australia is expected to grow by 10.3% in 2024 to a total of 5.3 billion. Globally, short-form video media spends are expected to reach $99.4 billion in 2024 with the USA being the biggest spender.
One of the fastest-growing comparable ‘lean in’ options, is YouTube Shorts (outside of Meta which is more passive in consumption). Brands and advertisers can now trade YouTube Shorts programmatically, and across the GDN network and exclusively as a placement within YouTube.
While the ease with which advertisers are now able to tap into short ads, the reach on the platform has also grown, as globally the usage of YouTube shorts has increased to 2.3 Billion global users as of 2024 which is up from 1.5 billion in 2022!
When we factor in advertisers’ ability to easily access and run exclusively YouTube Shorts ads, the expansion of YouTube Shorts usage and even the unpredictability surrounding TikTok’s future in the USA, we predict an increase in advertiser spend towards YouTube Shorts.
