A whopping 80 percent of marketers and media buyers have plans to increase their spending on original digital video through the end of 2017.
That underscores recent data, which shows that advertiser investment in original digital video programming nearly doubled since 2015. The data comes from the fourth annual “Digital Content NewFronts: Video Ad Spend Study,” with results of a survey of 358 marketing and media buying professionals conducted by Advertiser Perceptions and just released by the Interactive Advertising Bureau (IAB).
“Original digital video is gaining a greater share of total digital video budgets — its slice of the pie reaching 47 percent, from 45 percent in 2016,” notes the official report summary. “Native advertising is increasingly a key part in these original digital video buys, accounting for 42 percent of investment, up from 32 percent the previous year. More than half (53 percent) of respondents cited expanding budgets as the means to fund this rise in original digital video spend.”
Notably, it was revealed that the Digital Content NewFronts greatly impact media buying decisions. Eighty eight percent of marketers said that they increased their original digital video budget as a result of attending the 2016 NewFronts.
And new tech is part of the push.
“More than three-quarters (77 percent) agreed that the 2016 NewFronts encouraged them to investigate ways to incorporate VR or 360-degree video advertising into their marketing strategy.”
According to Anna Bager, the Senior Vice President and General Manager for Mobile and Video at IAB, “Original digital video is an inventive and engrossing medium that is increasingly being leveraged by advertisers to reach and engage consumers.”
“As video evolves with the introduction of VR and 360-degree technologies, we can expect to see original digital video play an even bigger part in brand strategy,” Bager said.
To download the complete report, click here.