New research by Adap.tv has revealed that mobile video ad buying is now viewed by most buyers as equally if not more complementary to TV than display advertising.
Indeed the research from the video advertising platform provider, based on input from more than 759 digital media and marketing professionals from across the advertising industry, showed that online video has permeated the marketing plans of advertisers across a wide spectrum of categories, and nearly half of those buying online video (48%) have added mobile video to their marketing arsenal.
Yet Adap.tv cautions that even though an overwhelming number of video buyers now say they see online video as an essential complement to television, they are now more likely to transfer their TV budget to online video in the coming year.
Other findings in the State of the Industry in Online Video analysis revealed that nearly three-quarters (72%) of video buyers’ budgets for the medium increased in the last year and that the average spending increase of those whose video budgets rose was 53%. This compared with just a fifth (20%) in the previous year, representing a doubling of the average budget hike.
The data also revealed that of those whose video budgets did increase, two-fifths of buyers shifted spending from TV budgets to fund the increased spending, compared with just over a quarter (27%) in the previous 12-month period. Even more buyers, 41%, shifted money from display advertising to fund increases in online video. The average amount of TV spending tapped for the increase in online video was 11%.
Analysing the data, Adap.tv found that buyers continue to see their video campaigns to be much more aligned with TV advertising than display advertising, so the cannibalisation of display may proceed even more rapidly than that of television spending with a viable third screen to feed.