With larger screen sizes now available in mobile devices, the consumer video experience is becoming richer and more varied. Unlike desktop and just like TV, the mobile and tablet video experience can dominate the entire screen – providing an immersive and engaging experience.
Additionally, the amount of video developed and shared via mobile and digital provides consumers with diverse and fresh content accessible anywhere, at any time. This is a global phenomenon that consumers and content providers are investing in. According to the Guardian, in the first half of 2014, UK consumers spent an average of more than 5 hours per week watching TV shows, clips and films on internet-connected devices.
Advertisers, however, have been slow to shift TV budgets to invest in digital video. According to the IAB UK, in the first half of 2014, digital video advertising grew 59 percent year-over-year, to £202m, yet the number still dramatically trails what is annually spent on TV.
Even though video is seeing tremendous growth, what is holding advertisers back from taking it to the next level? Emerging video ad formats offer advertisers a variety of different ad experiences tailored for any campaign goal: awareness, engagement, product consideration, lead generation and purchase. Mobile and digital video ad formats offer it all to advertisers.
Additionally, scale and reach are no longer factors in video ad buying. Global adoption has passed the tipping point and by layering in the contextual, behavioural and geographic targeting available at scale – how are video buys still miniscule compared to TV buys? Many industry insiders believe that a new and consolidated measurement system is required to grow advertisers’ investment in video.
These video topics and much more will be part of the conversation between industry leaders and luminaries in the Video Track at Advertising Week Europe, presented by Brightroll.