Video advertising platform Videology has unveiled in-depth UK market findings from its recently released independent study with Forrester Research showing the UK industry believes the changing ways in which consumers are consuming video content are driving the need for more holistic planning and buying as traditional and digital lines continue to blur.
The study revealed 67 percent of agency respondents believe they will merge their TV and online buying teams over the next three years, with 60 percent of advertisers believing advertising effectiveness and targeting will improve over the same period.
Two out of every three respondents believe there will be a sharp rise in video consumption via various sources – 53% say TV viewing at time of broadcast will decrease or stay the same, while over 70% of advertisers and agencies believe second screen interactions will open up additional opportunities for ad engagement.
Optimism about video’s future prevails
Over 60% of all respondents believe publishers will increase their overall advertising revenue by selling video ads and will earn higher CPMs over the next three years, while 59% say advertiser effectiveness will improve because of video during the same timeframe.
“Anyone who holds a stake in the fire will acknowledge the advertising landscape is evolving as a result of changing consumer habits across all channels” said Rhys McLachlan, TV Practice Head, Videology. “As this research shows, all stakeholders have something to gain from this seismic shift. Now it’s up to the industry to work together to develop the technologies and solutions needed for the entire ecosystem to succeed.”
The September 2014 study, which surveyed 100 UK media companies, agencies and advertisers, revealed the evolving combination of data, technology and cross-device viewing would lead to holistic, platform-agnostic planning of linear television and digital video advertising.