Electronic video ad spend among huge brands has increased by 53 % over the past two years, according to a survey released by the IAB, which is supervising the Digital New Fronts within New York City this week.
Approximately 350 brand marketers and press buyers with more than $1 million in yearly media spend completed the online study last month.
Typically, the respondents said 59 % of their digital/mobile ad spend would go to video, with an average of more than 20 dollars million spent on digital and cellular video ad buys annually. Two-thirds plan to shift some TV financial constraints to digital video this year. Fifty-six percent said broadcast/cable TV advertisement spend will remain flat over the following 12 months compared to the previous year. When compared, more than half of respondents said financial constraints will increase on desktop/online video, cellular video and advanced TV.
The biggest named beneficiary of this ongoing shift to video clip? Social media, broadly (which largely equals Facebook, specifically). Social media video could be the only video channel that a minimum of half of respondents said they intend to increase over the next year.
As platforms have got increased investment in original electronic video content, advertisers expect invest in original content to increase by 68 percent since 2016. More than eighty percent of respondents agreed that will ODV (original content video) “ reaches an audience that can’ t be reached on TV. ” However , the overall share of video clip ad budgets dedicated to ODV offers ticked up marginally, from 43 percent in 2016 to forty seven percent in 2018.
More creative is being developed designed for cross-screen purposes, with 30 percent associated with buyers saying digital video will likely be used across screens. Just twenty three percent develop ads tailored especially for each platform, and only 15 % repurpose creative primarily intended for TELEVISION in their digital video buys.
The brand marketers who seem to participated in the survey indicate organizations will continue to face pressure. Eighty-four percent agreed that “ marketers will increasingly bring more marketing functions in-house, advertising direct towards the consumer, and out of the hands associated with agencies. ” And 74 % said their companies will invest less with agencies this year plus shift funds to direct-to-consumer marketing.
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