Livestream Shopping is the Next Big Thing in Retail

$2B

The Interactive Advertising Bureau (IAB) conducted a survey that forecasts, podcast ad revenue in the U.S would rose $2B by 2023. In 2020, despite pandemic podcast revenue pulled up by 19% to $842M - up from $708M in 2019 and $479 M in 2018. IAB estimates that ad revenue would rise to $1B in 2021 and expected to double in the coming years. From the total, brand advertising shares have been increased to 45% and direct response marketers share raised by 51%. As per the study, among all types of ad creative, host-read spots are more popular, than make up more than half of the total revenue.

32%

Google ad revenue propelled in its Q1, which resembles a stronger recovery in the digital advertising market. Sundar Pichai, CEO of Google and Alphabet, announced that the revenue has pulled up by 34% to 55.31 billion and advertisement sales raised to 32% to $44.68 billion in 2021. On other hand, YouTube’s ad revenue increased by 49% to $6 billion and YouTube shorts the video sharing site saw a growth rate in daily views by 86% to 6.5 billion from 3.5 billion at the end of 2020. To attract creators to its YouTube shorts video, YouTube has launched $100 million in funds. This fund is paid to the creators each month based on engagement and views.

$25B 

Pandemic forced the customers away from physical stores, on the other hand, Livestreaming has gained its popularity as it provides an immersive shopping experience among brands and consumers. Coresight Research projects live streaming is considered to the no.1 trend in 2021 and the market predicts to gain $6 billion in this year and $25 billion by 2023. As it allows the brands to extend their reach for more consumers and to boost their revenue. The U.S Coresight survey states that in March 80.6% of consumers used social media platforms, in which 60% of them used social media in their shopping process.

103.6M

Disney’s video-on-demand streaming service Disney+ announced that it has 103.6 million paid subscribers in its Q2 globally. In April 2020, Disney+ had only 33 million subscribers now it has added 8.7 million more subscribers since the start of this year. The service growth has been tremendously raised with the launch of Marvel's original series, WandaVision and The Falcon and the Winter Soldier. The company Disney+ predicts to have 230 million to 260 million subscribers by 2024. Revenue for Disney’s direct-to-consumer business rose 59% to $4 billion.

33.1% 

Before the pandemic hit, in the US linear addressable TV ad spending has been a ramp up with an annual growth rate of 50.7% in 2018, 36.5% in 2019 and 7.3% in 2020. In 2021, it is expected that tv ad spending to bounce back by 33.1% to $2.85 billion and by the end of 2023 it is predicted that, linear addressable TV ad spending will propel to $4 billion annually. In 2021, the number of linear addressable TV households in the US will drop by 4.7% to 60 million.