UK ad industry bullish on future of video

Videology has unveiled findings from its recently-released independent study with Forrester which show that UK advertisers and media companies are bullish about the future of video.

The results show the UK industry believes the changing ways in which consumers are consuming video content are driving the need for more holistic planning and buying as tradition and digital lines begin to blur. The study revealed 67 per cent of agency respondents believe they will merge their TV and online buying teams over the next three years, with 60 per cent of advertisers believing advertising effectiveness and targeting will improve over the same period.

Other key findings include:

The UK industry believes the consumer is evolving:
– Two out every three respondents believe there will be a sharp rise in video consumption via various sources – such as original online professional programming and full-length TV programming from network’s sites.
– 53 per cent say TV viewing at time of broadcast will decrease or stay the same, while over 70 per cent of advertisers and agencies believe second screen interactions will open up additional opportunities for ad engagement.

Flexible ad tech is key:
– 75 per cent say the ability to work directly with publishers to customise opportunities will be vital, while 73 per cent say the ability to evaluate audiences based on buying behavior is important to them.

Optimism about the video future prevails:
– Over 60 per cent of all respondents believe publishers will increase their overall advertising revenue by selling video ads and will earn higher CPMs over the next three years, while 59 per cent say advertiser effectiveness will improve because of video during the same timeframe.

Commenting on the findings, Rhys McLachlan, TV Practice Head, Videology, said: “Anyone who holds a stake in the fire will acknowledge the advertising landscape is evolving as a result of changing consumer habits across all channels. As this research shows, all stakeholders have something to gain from this seismic shift. Now it’s up to the industry to work together to develop the technologies and solutions needed for the entire ecosystem to succeed.”

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