IAB study: More than two thirds of marketers and agencies to increase digital video ad spend in the next year
According to a study by the Interactive Advertising Bureau (IAB), 68 per cent of marketers and agencies plan to increase their digital video ad spending in the next year.
The news was released as part of a study titled ‘Digital Content NewFronts: Digital Video Spend,’ which surveyed more than 300 buy-side professionals.
While respondents expect an increase in digital video ad spending, 67 per cent said they expect broadcast and cable TV ad budgets to either stay the same or decrease.
“This study demonstrates unequivocally that digital video is a fierce competitor for advertising dollars,” said Sherrill Mane, the IAB’s senior vice president of research, analytics, and measurement. “Brand advertisers and media buyers have been dramatically increasing their commitment to digital video, so all signs point up for this captivating form of storytelling as the industry rallies for the NewFronts.”
The release of the data marks coincides with the 2015 Digital Content NewFronts, a two week event put on by the IAB that features presentations by the industry’s technology and video leaders.
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