Frost & Sullivan: Australian online video market poised for very strong growth with 31% CAGR to 2018

Frost & Sullivan: Australian online videoFrost & Sullivan: Australian online video market poised for very strong growth with 31% CAGR to 2018 PR Newswire SYDNEY, Oct. 23, 2013 ~Expenditure on online video advertising to reach $513 million by 2018~ Australia's online video market is being driven by the growing popularity of mobile devices and tablets and boosted by the preference of younger consumer age groups towards online video channels as a direct substitute for traditional TV. Frost & Sullivan predicts expenditure on online video advertising to grow strongly at a CAGR of 31% over the next five years, increasing from $133 million in 2013 to $513 million in 2018. Frost & Sullivan's latest report, Australian Online Video Market 2013 finds that in 2013, 87% of consumers watched TV shows and/or movies on a TV screen at least once month; a decline from 94% in 2012. Meanwhile, the frequency of consumer viewing on tablets and smartphones increased from 20% in 2012 to 24% in 2013. 27% of smartphone users watch user generated content on sites such as YouTube on most days, while 60% do so at least once a month. Phil Harpur, Senior Research Manager, Australia & New Zealand ICT Practice, Frost & Sullivan said, "Larger and higher resolution smartphone screens has improved the viewer experience significantly, whilst monthly data cap limits offered by mobile operators have risen significantly.