Interest in digital media, online video advertising increases and focus on TV declines
Posted on Aug 26, 2013 by YuMe
With consumers connected to the digital sphere throughout the day, it's clear that investing in Internet video ads, social media advertising and other online ad types gives brands a leg up on their competition.
While television advertising remains a strong pursuit of ad agencies and brands, digital marketing is gaining traction. STRATA, a media transaction software provider, recently polled advertising professionals about their perception of ad platforms. Interest in television advertising dropped to a three-year low as the focus on Internet grows.
Forty-four percent of respondents stated they are more interested in advertising on spot TV and cable than any other medium, making traditional television the top platform. However, interest in broadcast advertising has dwindled significantly in recent years. The second most popular medium is digital, with 35 percent of survey participants deeming it the most important. Interest in Internet advertising this year is up 16 percent over STRATA's 2012 survey.
"It is no surprise that digital has become an integral component for many advertising campaigns," said John Shelton, president and CEO of STRATA. "Now, the only question that remains is how close the interest in TV and digital advertising will become in the future."
Shelton added his company expects ad spending on traditional and newer formats will even out in the near future. Among these more modern platforms is online video advertising. Roughly 3 in 5 survey respondents said video in general – including streaming and traditional television – is their main focus. When it comes strictly to video ads on the Web, Hulu, Netflix and Vine ranked among the top site choices.
These findings align with those from GroupM, cited by BusinessDay, stating global digital ad spending is expected to reach $95 billion this year and increase 14 percent in 2014. With more advertisers and brands set on investing more in Internet media, online video advertising is set to grow steadily in the foreseeable future.