UK Video Sector Grew 10% in 2023; Amazon Launching Video Prime Ads at $30 CPMs; 77% of Publishers to Focus on Own Direct Channels in 2024

by Aimee Newell Tarín on 12th Jan 2024 in News

Today on the ExchangeWire Stack: UK Video Sector Grew 10% 2023; Amazon Launching Video Prime Ads at $30 CPMs; 77% of Publishers to Focus on Own Direct Channels in 2024

It has been a pretty big week in the world of video. New preliminary data from digital retail association ERA reveals that the UK video sector grew by 10% in 2023, with SVOD specifically growing by 12.8%. Amazon also announced that Prime Video will be launching with ads in the $30 (£23.55) CMPs range, undercutting its biggest rivals and positioning itself to reap the benefits of the growing SVOD market.

Although the video sector continues to grow, the TV advertising downturn persists, with Channel 4 announcing upcoming cuts to its workforce. Twitch followed suit later in the week, announcing it will be cutting 35% of its staff.

It appears video will also be key for publishers this year: concerns over the sharp decline in referral traffic from social media has pushed publishers to prioritise the medium, as they plan to focus efforts on their own direct channels.