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Marketers have almost doubled spending on digital video advertising since 2015, according to a new study from the Interactive Advertising Bureau. Also 80% of marketers and media buyers plan to increase spending in original digital video through the end of the year. But digital video ad revenue has a long way to go until it catches up to TV.

Expand chart
Data: eMarketer; Chart: Lazaro Gamio / Axios

The big question: Experts have long predicted that TV ad spending will eventually plummet, similar what happened in newspapers in 2000, but the timing will likely depend on a few factors, like retransmission and programming contracts, and most importantly, ad-buyer efficiency.

TV isn't dead, yet: Despite the explosion of mobile video, Americans still watch TV more than any other medium. Per Nielsen's latest Total Audience Report, U.S. adults spent 86% of their media viewing time with traditional TV, compared to only 14% for all other screens combined. However, digital investments now are still important, as these margins shift dramatically towards digital for younger audiences who are migrating their content consumption habits to mobile and cutting their cable cords in favor of cheaper, on-demand options.

"TV ad rates have without question gone up," says Steve Passwaiter, Vice President and General Manager at Kantar Media, a widely-used advertising measurement group. "Every year you hear about them (networks and cable channels) bumping up CPM'S (cost-per-thousand rates) by 8-10% just because it takes so many more spots to accomplish the same targeting goals than it did 10, 20 years ago. But at the same time, every year the subscription numbers keep shrinking, creating an artificially inflated supply and demand.

"For TV networks, right now, it's a perfect storm."

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The new Washington

Illustration: Sarah Grillo/Axios

The Axios subject-matter experts brief you on the incoming administration's plans and team.

Rep. Lou Correa tests positive for COVID-19

Lou Correa. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Rep. Lou Correa (D-Calif.) announced on Saturday that he has tested positive for the coronavirus.

Why it matters: Correa is the latest Democratic lawmaker to share his positive test results after last week's deadly Capitol riot. Correa did not shelter in the designated safe zone with his congressional colleagues during the siege, per a spokesperson, instead staying outside to help Capitol Police.

Far-right figure "Baked Alaska" arrested for involvement in Capitol siege

Photo: Shay Horse/NurPhoto via Getty Images

The FBI arrested far-right media figure Tim Gionet, known as "Baked Alaska," on Saturday for his involvement in last week's Capitol riot, according to a statement of facts filed in the U.S. District Court in the District of Columbia.

The state of play: Gionet was arrested in Houston on charges related to disorderly or disruptive conduct on the Capitol grounds or in any of the Capitol buildings with the intent to impede, disrupt, or disturb the orderly conduct of a session, per AP.