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%.
Below, additional findings from the 1Q13 State of the Video Industry Survey.
Buyers continue to see their video campaigns as much more aligned with TV advertising than display advertising:
Accordingly, the cannibalization of display may proceed even more rapidly, Digiday and adap.tv said.
Most video buyers now say they see online video as an essential complement to television:
Participation in TV upfronts as a place from which to purchase online video reversed the prior-year, Q1 decline, but still accounts for just 31% of video buyers purchase online video:
Though buyers who participated in the survey hail predominantly from the online side of the house, the gulf between the digital group and the "traditional" TV group, vis-à-vis video buys, is nevertheless still striking:
- 73% of buyers said the digital group buys online video in their organizations.
- 21% said "cross-media."
- 6% said the TV group.
About the data: Digiday polled its opted-in base of digital media and marketing pros for their impressions of changes in online video buying and selling; 759 survey respondents took part between March 12 and 22.
Continue reading "Digital Video Advertisers Up Budgets, Shift Spend From Display and TV" ... Read the full article
MarketingProfs provides thousands of marketing resources, entirely free!
Simply subscribe to our newsletter and get instant access to how-to articles, guides, webinars and more for nada, nothing, zip, zilch, on the house...delivered right to your inbox! MarketingProfs is the largest marketing community in the world, and we are here to help you be a better marketer.
Sign in with your preferred account, below.
You may like these other MarketingProfs articles related to Advertising:
The Impact of Reddit Ads [Infographic]
This infographic makes the case for why ads have a big impact on Reddit by presenting data related to user behavior and community engagement. read this »
How to Identify What Advertising Strategy Is Best for Your Business: Rebecca Bugger on Marketing Smarts [Podcast]
Do you know where you need to be advertising? Many marketers default to digital, but is that where your audience is? Other advertising methods can be paired with digital for the best strategy, according to Rebecca Bugger. read this »
How to Use Interactive Ad Campaigns to Generate Leads
You know when you were a kid visiting a museum and hated reading long blocks of text but loved the slimy "touch and feel" displays? That's pretty much how interactive advertising works—and for generating leads, it definitely works. read this »
Five Ways Digital Attribution Can Improve ROAS for CTV/OTT Advertising
Consumer ads have ruled CTV, but with the ever-decreasing gap between home and work life, that doesn't have to be the case. Here's how B2B advertisers can use digital attribution to take advantage of CTV. read this »
Seven Results-Driven Paid Strategies for B2B Marketing
You've been throwing free content at people, and they're not engaging with it. You're exhausted. Your CEO agrees: It's time to buy their attention. Try one of these seven paid marketing strategies. read this »
Global Spend Trends for Out-of-Home and Cinema Advertising
Marketers' return to investing in out-of-home and cinema advertising is outpacing consumer behavior, according to recent research from WARC. read this »