Online video is set to capture nearly a third of total online display advertising spend by 2015. eMarketer projects total online display advertising spend to hit just shy of $22 billion in 2015, with video capturing over $7 billion of this spend. As far as share of growing online display ad spend, video will nearly double and displace preference for other mediums including banner ads, rich media campaigns, and straight up sponsorships.

eMarketer introduced these latest projections by explaining:

“Not long ago, display advertising was considered merely a direct-response vehicle. But with the rise of online video, the increasing success of Facebook and ongoing improvements to audience targeting and buying technology like real-time bidding (RTB), media buyers are returning to display with big hopes—and even bigger ad budgets.”

eMarketer also shared results from a digital advertising survey conducted by Boston based DataXu and DIGIDAY back in December. At that time, digital advertisers reported that placement of online display ads on social media networks were by far the best at fostering engagement. Placement of online display ads on premium publishers followed behind at generating the best engagement. Digital advertisers also reported these premium publishers were better than social networks, general ad networks and demand-side platforms at generating brand awareness.

Have you placed ads in online video? What has been your experience? Let us know in the comments.