In a recent survey conducted by the Interactive Advertising Bureau, original content developed for the web will soon be just as important – if not more important – to advertisers as television ads. IAB surveyed nearly 300 brand marketers and advertising agency executives to find out exactly how strong the budget shift from TV to digital video may be.
About 65% of respondents are planning on spending more money on digital video advertising in 2014, and that most of the budget will be taken from television ad spend. However, many also expect overall budgets to grow to include digital video. As more video producers are focusing on developing online web video series – or “webisodes” – advertisers believe budget allocations will increase only by about 1 percent in 2014, at the expense of other types of video content.
Measuring the success of video still seems to be the biggest challenge for the marketing industry. Roughly 80% of advertisers say they’re still looking for research that proves digital video advertising is more effective than television advertising. 74% of respondents say they would be more likely to increase digital video marketing budgets if there were metrics consistent with TV. Most advertisers prefer a solution that enables TV and digital video buys in one buy. More than 75% of respondents spend directly with sites and almost as many buy via ad networks. Cross platform buys are expected to increase in 2014; 60% of marketing agencies increased spending on cross platform buys in 2013.
“There is a clear need for a showcase and an upfront advertising buying opportunity for original digital video content,” says Randall Rothenberg, President and CEO of the Interactive Advertising Bureau. “The medium is already generating hit shows and cultural buzz, so it’s unsurprising that – as the study shows – advertiser budgets are following the eyeballs.”
For more information on digital video advertising, or if you’d like to get started on a web video of your own, contact the experts at In Focus Studios. With locations in Pittsboro, NC and Annapolis, MD, our experienced videographers and photographers serve the entire southeast. Call today for a free consultation!