The IAB and PwC Digital Adspend Study revealed this month certain trends in the industry. Not only has digital ad spending increased by 17.5% making a record six month high of £66 per person online for a total of over £3 billion in spending, but video advertising has experienced a shocking amount of growth, accounting for nearly 20% of all advertising spending in 2013.

The majority of major companies have already contributed to the dynamic advertising strategy’s popularity. In fact, each and every company on AdAge’s 100 Leading National Advertisers increase their social media exposure by running ads on YouTube, so the study’s findings don’t come as a complete shock.

Although conventional means of advertising are still quite effective, there are certain drawbacks that aren’t present with online video marketing. There are limited metrics available for TV spots and print advertisements, and the process to add or remove a car wrap is highly specific. That being said, TV spots, billboards, and car wraps are still highly effective.

Online video marketing, on the other hand, is a relatively simple, cost effective process that allows companies to properly measure lead conversions to determine a more accurate ROI. Plus, it’s easier for online videos to go viral than it is for TV spots just as it’s easier for online videos to reach high-value, target demographics.

Online hosts are making videos easier for advertisers, also. For example, Microsoft’s video network provides advertisers with access to online ad space across an approximate 350 accredited publishers on a variety of platforms and devices.

There’s no doubt that online video advertising will continue to grow, but the questions is by how much. It’s estimated that the worldwide spending on online video advertising in 2014 will be $8.3 billion, while 2015 and 2016 will be $9.8 billion and $11.4 billion respectively. If these estimates come to fruition, then it’s clear that the advertising world will never be the same.