Report: Brands, Agencies to Increase Video Spending Across Platforms
Most marketer and agency executives anticipate increasing their digital video advertising spend this year, according to a new study from Advertiser Perceptions -- and a good portion of the momentum will come from the combined deployment of video creative across TV and digital platforms.
The Video Advertising Convergence study, which queried Advertiser Perceptions’ database of agency and brand execs, found that 69 percent plan to increase digital video spending over the next 12 months. Respondents cited three main sources as driving the increase: a reallocation of funds from other budgets (primarily print and billboard), a general shift from banner to digital video advertising, and lastly, the migration of TV dollars to video.
The study found that TV buyers, especially view digital video as an extension of their traditional TV plans, extending the reach of a TV campaign while offering more precise targeting.
Michael Turcotte, SVP, digital activation at Zenith, agreed that marketers and agencies are rethinking the one-size-fits-all creative approach. “They must now balance production budgets with the multiple different ways to deploy video and take advantage of the medium's benefits. While the ‘TV’ is still the dominant screen, the other screens offer a level of engagement and targeting that help drive up ROI. Marketers must seek ways to deploy both, efficiently."
Some agencies are pushing to integrate their TV and video-buying teams.
"During the recent upfront, we worked hard with our digital leaders at Initiative to combine digital and television purchasing,” said Kris Magel, EVP, director national broadcast, Initiative. “It's good for the marketplace, it's good for advertisers…we are advising our clients on a holistic approach to video and they want to know more about what's available.”
He added: “Media brands need to build combined digital/television packages that show the advantages of annual commitments -- with significant flexibility and research that proves its value."