Last month, a survey conducted by Advertiser Perceptions and the Interactive Advertising Bureau (IAB) revealed that advertisers have nearly doubled their investment in original digital video programming in the last few years.
Eighty percent of those polled said they plan to spend more on original digital video this year, with original digital video's share of total digital video ad budgets reaching 47% in 2017, up from 45% a year ago.
If marketers are bullish about video, what can we expect? Perhaps more experimentation with, and campaigns using, virtual reality and 360 video. There’s also more interest in developing and owning original video programming that goes beyond product integration.
Unilever’s Dove is an example of a brand that’s diving into video, partnering with Hollywood showrunner Shonda Rhimes, who’s responsible for hits like “Scandal” and “Grey’s Anatomy” on ABC.
GenZ and millennial audiences have voracious appetites for mobile video, so that’s becoming de rigueur in marketing plans. Brands need to be on YouTube, of course, but also Instagram and Snapchat, both of which have video-centric approaches.
Facebook, which is looking to enter original programming, is also focused on promoting video content and new technologies. Surely all eyes are on Facebook to see if the social media giant can make a go of it.
The focus on original video content, whether for the Web or TV, comes as marketers are increasing their overall budgets for digital video advertising, with 60% telling the IAB they will increase spending in the next 12 months.