Video marketing continues to be on the rise in the digital space. From producing videos to distributing and promoting them, the U.S. digital video marketing industry is expected to reach $135 billion this year, according to a new study by mobile video platform Magisto.

Forbes writer, Kathleen Chaykowski states, “The 2017 estimate — which includes the cost of video capturing, creation, hosting, distribution, analytics and staffing — is sizeable and would make video marketing nearly as large of a market as digital and television advertising combined. By contrast, advertisers are expected to spend $83 billion on digital ads and $71 billion on TV commercials (a total of $154 billion) in the U.S. this year. On average, each American businesses will spend $20,000 on video marketing this year, the study predicts. Magisto, which is based in Menlo Park, Calif. and makes a web-based video editing tool, published its study on Wednesday based on voluntary, anonymous responses from 545 marketing decision makers at small, medium and large U.S. businesses, surveyed this summer.”

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