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More than two-thirds (68 per cent) of marketers and agency executives expect to see their digital video ad budgets increase in the next 12 months, according to the second annual Digital Content NewFronts: Digital Video Spend Study, a survey of 305 buy-side professionals conducted by Advertiser Perceptions and IAB.
This optimism about the medium comes on the heels of a strong uptick from spring 2013 to spring 2015 in budget allocation to digital video by brand advertisers and media buyers, with the former increasing its commitment to digital video by 90 per cent over that two-year time period.
Report highlights include:
Digital Video Spending and Trends
• Digital video continues strong growth – with higher spending optimism than any other video or TV media type.
• The increase in digital video spending will be funded by shifting money away from cable/broadcast TV (with agencies more apt to shift dollars away from Cable in particular).
Original Digital Video Content Spending and Trends
• Steady increase over last 3 years in the share of digital video budgets dedicated to original digital programming.
• Most advertisers agree that original digital video programming will become as important as TV within 5 years.
Digital Content NewFronts: Awareness and Impact
• The overwhelming majority (77 per cent) of digital video decision-makers are aware of the Digital Content NewFronts.
• Among those advertisers with knowledge of the NewFronts, three-quarters plan to attend in 2015 representing an 111% Increase from 2013.
• Digital Video budget allocations resulting from the NewFronts event has steadily increased over the last 3 years.
• The 2015 NewFronts event is poised to capture just over a third of advertisers’ digital video budgets (overall), as well as a third of their original digital video budgets.
• 8 in 10 advertisers agree that their attendance at the 2014 NewFronts resulted in increased spending on Original Digital Video content and/or motivated them to increase their 2015 budget for ODV content.