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Online Video On Demand Growing Advertising Platform
Online video advertising is a rapidly growing part of the advertising market according to a report undertaken by Web TV Enterprise, which showed an increasing use of Video On Demand (VOD) in marketing strategies.
Web TV Enterprise has been monitoring the VOD advertising market since September 2009, and has seen significant growth in the area over the last six months.
Once marketers have seen how effective VOD advertising can be, they rarely turn back from the enticing marketing sector. More than 62 per cent of VOD buyers said that they were incorporating some form of VOD into at least half of their online advertising campaigns.
Over 10 per cent of those polled by the survey were true converts of the power of VOD, allocating budgets to video advertising for 90 per cent or more of their clients’ campaigns. Advertisers are also spending more on VOD, with one in three campaigns spending between £25,000 and £50,000 ($37,000-74,000) on a single online campaign.
“With professionally produced short and long-form content being added to all leading web destinations every day, video viewing on the web is continuing to grow. The size of the audience now engaging with this content offers TV advertisers significant reach on the web,” said Jamie Estrin, Web TV Enterprise’s managing director in the report.
In the coming six months, 76 per cent of advertisers expect to increase their VOD spend by up to 50 per cent, a vote of confidence in the marketing platform. With online videos having a chance to become instantly viral like this Waterslide video designed by Microsoft last year, online video advertising is very much here to stay.
Mobile and Video Advertising news posted by Lily Townsend on 09 March 2010
