Digital Video Advertising - Colombia

Ad spending in the Digital Video Advertising market in Colombia is forecasted to reach US$234.00m in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2030) of 5.74%, leading to a projected market volume of US$327.10m by 2030.
With a projected market volume of US$85.39bn in 2024, most revenue is expected to be generated the United States.
Within the Digital Video Advertising market, 81% of total ad spending will be generated through mobile in 2030.
The average ad spending per internet user in the Digital Video Advertising market is projected to be US$6.03 in 2024.
Connected TV ad spending in the Digital Video Advertising market is estimated to reach US$9.45m in 2024.
Connected TV is forecasted to exhibit an annual growth rate (CAGR 2024-2030) of 4.28%, resulting in a projected market volume of US$12.15m by 2030.
Ad spending on short-form videos in the Digital Video Advertising market is projected to reach US$99.71m in 2024, with an expected annual growth rate (CAGR 2024-2030) of 9.53%, leading to a projected market volume of US$172.20m by 2030.
Colombia's Digital Video Advertising market shows a surge in programmatic ad buying, indicating a shift towards data-driven strategies in the industry.

Definition:
Digital Video Advertising includes all ad formats within webpage-based videos, app-based video players, social media, or streaming apps on computer screens, smartphones, tablets, and other internet-connected devices. Videos that seamlessly match the form and function of the environment (e.g., news websites, video platforms) in which they appear (so-called native advertising) are also included in Digital Video Advertising.

Additional information:
Digital Video Advertising comprises advertising spending, connected-TV advertising spending, users, average revenue per user, and user demographic. The market only displays B2B spending. Figures are based on Digital Video Advertising spending and exclude agency commissions, rebates, production costs, and taxes. Key players in Digital Video Advertising include Comcast Corp., The Walt Disney Company, YouTube, TikTok, and Facebook. For more information on the data displayed, use the info button right next to the boxes.

All ad formats within webpage-based videos, app-based video players, social media networks, or social media apps
Pre-roll, mid-roll, and post-roll video ads
Text- or image-based overlays that appear in video players
Native advertising
Connected TV advertising
Ad spending on short-form videos

Traditional TV advertising video formats broadcasted over traditional transmission channels (e.g., DTT, cable, satellite)
Addressable TV ads, targeted advertising to individual households via set-top boxes; including cable and satellite using addressable technologies such as Dynamic Ad Insertion (DAI)

The Digital Video Advertising market in Colombia has been experiencing significant growth in recent years.

Customer preferences: Colombian consumers are increasingly turning to digital platforms for their entertainment needs, which has led to a surge in demand for digital video advertising. This shift in consumer behavior can be attributed to several factors. Firstly, the increasing penetration of smartphones and affordable internet access has made it easier for Colombians to access digital content on the go. Secondly, the rise of social media platforms and streaming services has provided consumers with a wide variety of digital video content to choose from. As a result, advertisers are increasingly investing in digital video advertising to reach their target audience.

Trends in the market: One of the key trends in the Digital Video Advertising market in Colombia is the growing popularity of programmatic advertising. Programmatic advertising allows advertisers to automate the buying and selling of digital ad inventory, making it more efficient and cost-effective. This trend is driven by the increasing availability of data and advanced targeting capabilities, which enable advertisers to deliver personalized and relevant ads to their audience. As a result, programmatic advertising is expected to continue gaining traction in the Colombian market. Another trend in the market is the rise of mobile video advertising. With the increasing adoption of smartphones in Colombia, consumers are spending more time watching videos on their mobile devices. This has created new opportunities for advertisers to reach their target audience through mobile video ads. Advertisers are leveraging the unique features of mobile devices, such as location-based targeting and interactive ad formats, to deliver engaging and impactful video ads to consumers.

Local special circumstances: Colombia has a vibrant and growing digital ecosystem, which has contributed to the development of the Digital Video Advertising market. The country has a young and tech-savvy population, who are early adopters of new technologies and platforms. This has created a favorable environment for digital video advertising to thrive. Additionally, Colombia has a strong creative industry, which has led to the production of high-quality video content that attracts viewers and advertisers alike.

Underlying macroeconomic factors: The growth of the Digital Video Advertising market in Colombia is also influenced by underlying macroeconomic factors. Colombia has experienced steady economic growth in recent years, which has increased consumer purchasing power and discretionary spending. This has created a larger market for advertisers to tap into. Furthermore, the Colombian government has been supportive of the digital industry, implementing policies to promote investment and innovation in the sector. These factors have contributed to the development and expansion of the Digital Video Advertising market in Colombia.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on digital video advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers video ad formats (web-based, app-based, social media, and connected devices).

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use market data from industry reports and survey results from our primary research (e.g., Consumer Insights Global Survey) to analyze the markets. Then we benchmark key countries or regions (United States, China, Europe, Asia, and Africa) results with country-specific advertising organizations or associations. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, internet users, and digital consumer spending.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

From six-second bumper ads to multi-minute compilations, video marketing is constantly evolving, and audiences everywhere never fail to tune in. As the number of digital video viewers keeps rising every year, marketers embrace video as a promotional tool more vividly than ever. In 2023, digital video ad spending amounted to almost 176.63 billion dollars. Unsurprisingly, the United States remains the country with the highest spending on digital video ads, followed by China and the United Kingdom. Connected TV (CTV) and social video are among the most popular content marketing tactics worldwide, and the post-pandemic era has only consolidated companies’ dependency on these tools.