IAB Releases Original Digital Video Study for Start of NewFronts
The Digital Content NewFronts -- where online broadcasters present upcoming online programming to prospective advertisers -- begin today, and IAB (the Interactive Advertising Bureau), which runs the eight-day NewFront season, has released survey results showing that brand marketers see a growing importance in online video.
The study -- "Digital Content NewFronts: Video Ad Spend Study, April 2014" -- shows that a large majority (75 percent) of brand marketers and advertising executives believe that original online video will become just as important to their business as television within 3 to 5 years. That will led to increased ad support for online video, with most of that budget increase coming from television ad budgets. That's sure to be good news to online broadcasters. While online video advertising has been increasing, so far it's come from other budget areas, such as display.
In 2014, advertisers expect to spend nearly half of their online video budgets (48 percent) on original online programming, the study finds.
In exchange for their ad dollars, advertisers expect online video creators to provide metrics that support the belief that digital video is as effective as television for sales and branding.
Advertiser Perceptions created the survey by questioning 297 buy-side executives. Download the survey for free (no registration required). The IAB has also created a NewFront 2014 app that runs on iOS and Android devices.
Looking back at this year's newfront announcements, it's clear that long-form series are best left to the SVODs, while online publishers keep things short and breezy.
Viewers are streaming more video than they did a year ago, often using a second screen to get more information about the program.
The new IAB Digital Video Center of Excellence will evaluate standards, create research, and identify online video advertising best practices.
More people are watching original online video, they don't plan their viewing, and they're looking to their social networks for video recommendations.
This first update since 2009 is designed to bring the language up-to-date with current online video advertising practices.
The mobile video ad space is still confusing for many marketers; a free guide helps them learn the basics and more.
The full online ad industry grew to $36.6 billion in 2012, while digital video ads accounted for $2.3 billion of that.