Marketers and Agencies Optimistic About Online Video: IAB Study
As the 2015 newfronts begin in New York City, the IAB (Interactive Advertising Bureau) has released marketing and agency executive survey results that show positive feelings about the future of online video. The survey found 68 percent of respondents expect their online video advertising budgets to increase over the next year. The IAB notes that budgets have been increasing strongly for the past two years, as brand advertisers have increased their digital video commitment by 90 percent.
For some, that increase to online video will come from rising budgets while for others it means a shift from broadcast and cable advertising. The survey shows that 67 percent expect their broadcast and cable budgets to either stay the same or decrease in the coming year. The same number—67 percent—believe that original online video will become as important as original TV programs in the next 3 to 5 years.
The survey also shows the value of newfront presentations: 80 percent of the advertising and agency executives who attended newfront presentations in 2014 say those events motivated them to spend more in online video and increase their online video ad budgets in 2015.
The survey questioned 305 marketing and agency executives who were involved in online video or TV ad decision-marking worth $1 million or more in 2014. Download the full study results (no registration required).
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More people are watching original online video, they don't plan their viewing, and they're looking to their social networks for video recommendations.