IAB says majority of marketers are dedicating digital ad budgets to video
The Interactive Advertising Bureau (IAB) is kicking off its annual NewFronts event by reminding advertisers that digital video spend is on the rise.
According to a study released by the trade body today (April 30), 59% of marketers currently dedicate their digital advertising budgets to video. The study included responses from 353 marketer and agency executives who are “involved in digital video advertising decision-making.”
The study also found that more than half of buyers plan to increase digital and mobile video spending in the next 12 months.
Additionally, investment in “original digital video” - programming that the IAB defines as “professionally produced specifically for digital/online consumption” - is projected to increase 68% between 2016 and the end of this year. According to the IAB, nine in 10 advertisers agree that original digital video programming is an “essential part of the marketing mix,” with the majority saying that the medium allows for more prominent placing and branding.
The research comes days after the IAB released a separate report that found 72 million American adults watch original digital video, up from 45 million in 2013.
The Drum is hosting a Video Futures event in New York City on May 8 with representatives from Diageo, GroupM, NBCUniversal and Telaria. Attendance is free, click here to register.
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