As online video becomes a part of the marketing plans of a growing cross-section of advertisers, 72% of video buyers' budgets increased in the past year, according to the 1Q13 analysis of the State of the Video Industry study from Digiday and adap.tv.
Moreover, nearly half of those who buy online video advertising (48%) have added mobile video to their marketing arsenal, the study found.
The average spending increase of those whose video budgets rose was 53%, compared with just 20% the previous year—a doubling of the average budget hike—according to the Q1 analysis.
Among other key findings:
- Of those whose video budgets did increase, 39% of buyers shifted spending from TV budgets to fund the increased spending, compared with just 27% the previous year.
- Even more buyers—41%—shifted money from display advertising to fund increases in online video.
- The average amount of TV spending shifted to online video was 11%.
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