Study: Demand for New Video Formats Set To Explode

Study: Demand for New Video Formats Set To Explode
SHARE
THIS



Findings from a new global research study commissioned by AOL show that Aussie media buyers and advertisers are gearing up for a dynamic 12 months ahead, as new video formats and approaches to media explode into the market.

A significant 65 per cent of local media agencies are currently buying or plan to buy VR digital video in the next year, and believe there is a place for VR in the digital video marketplace – above global expectations (60 per cent).

Furthermore, 79 per cent of Aussie media agencies believe new video formats will provide a better consumer experience – on par with global expectations.

Using programmatic to drive change

The survey also found that Aussie media buyers are some of the most prepared in the world to embrace change.

Locally, four per cent of buyers expect to go ‘all in’ with programmatic, and increase spending by more than 100 per cent. This is the highest rate in the world, in which just two per cent expect to list spending by more than 100 per cent.

Of organisations expecting to increase spending to programmatic by over 50 per cent, almost a quarter (22 per cent) of Australian buyers plan to lift spending to that extent, which is again ahead of the global trend of 18 per cent.

Sellers, however, expect more muted interest, with only one per cent of sellers in Australia expecting programmatic spend to increase by over 100 per cent, compared with five per cent globally, while 22 per cent of sellers expect spending to increase by over 50 per cent – well below global expectations (33 per cent).

One of the challenges holding programmatic back in Australia is a lack of expertise, according to the study, with 61 per cent of the local media industry reporting a lack of expertise as an obstacle in selling video inventory programmatically.

Australia is the only market where this is the principle concern, and is well over the global trend of 30 per cent).

Other major concerns are brand safety (55 per cent), the perceived risk of losing a direct buyer relationship (45 per cent) and a lack of existing process and systems (45 per cent).

How are consumers experiencing content

Across the Aussie market, and across all devices, 65 per cent of consumers are watching some kind of video daily, and 59 per cent watch more video now than they did a year ago.

The study found that 65 per cent of consumers prefer to watch content online or through a connected TV due to the convenience and flexibility that it offers.

Looking at consumers’ video-watching habits, 72 per cent watch videos of less than one minute at least once a week, and 74 per cent watch videos between one minute and five minutes in length.

This is a significant contrast to people who watch longer videos – just 55 per cent of people watch videos that are 10 to 20 minutes long each week, and only 57 per cent of people watched videos longer than 20 minutes.

According to the survey, 31 per cent of consumers discover video through social feeds, and a further 31 per cent get content from people they know.

Mobile spending on the rise (but not so much in Australia)

Almost half (44 per cent) of Aussie advertisers expect to increase mobile video spend by at least 25 per cent over the next year, while 46 per cent of publishers expect to see the same increase in spending.

Globally, 47 per cent of advertisers and 57 per cent of publishers expect to see a 25 per cent increase in investment into mobile video.

Growth expected to come from different places for publishers and advertisers

In total, 42 per cent of advertisers reported that they believe “social media video offerings” and “better targeting and personalisation of video ads” will be the top growth drivers in digital video.

Meanwhile, for publishers, the demand’s in the quality – only 33 per cent of publishers believe that social media video offerings will drive growth, but 67 per cent of them believe “better quality creative” will drive growth and revenue.

Latest News

Women In Media Profile: Danni Wright
  • Media

Women In Media Profile: Danni Wright

We'd be headlining Danni Wright's Women in Media profile the "Wright stuff" if it wasn't utterly predictable and naff.

by B&T Magazine

B&T Magazine
Industry Generates A Record $10.5m For Social Impact
  • Media

Industry Generates A Record $10.5m For Social Impact

UnLtd, the media, marketing and creative industry’s social purpose organisation has announced a total industry contribution of $10.5m to social impact in FY18. The total value of funds, services, inventory and time donated by the media, marketing and creative industry increased by 21per cent compared to the previous financial year due to a growth in […]

Posterscope Promotes Two
  • Media

Posterscope Promotes Two

Posterscope, Dentsu Aegis Network’s specialist out-of-home agency, has promoted Ryan Hedditch to the newly created position of national head of strategy and Samantha Summers to Sydney Group Business Director. In his new role, Hedditch is charged with driving the continual improvement and transformation of the Posterscope offering to clients and partners. Summers’ promotion will see her lead […]

Outbrain Accelerates Growth With APAC Promotions
  • Media

Outbrain Accelerates Growth With APAC Promotions

Native discovery platformOutbrain has announced several movements in its regional leadership team, with plans to make more new hires. This comes on the heels of two senior appointments it made in February, after closing a record year in the region with expansion into new markets. Yoav Tourel has been promoted to head of sales for […]

Clems Syd & Extra GUM Unveil YouTube Digital Stage
  • Media

Clems Syd & Extra GUM Unveil YouTube Digital Stage

YouTube EXTRA Gum has launched EXTRA Support Acts, a program created to support Australia’s up and coming musicians by transforming pre-roll ads on YouTube into a digital support stage. It has been created in partnership with Clemenger BBDO Sydney as creative lead, Universal Music Australia and BRING for talent and music strategy and content, MediaCom and YouTube. The […]

OMD Australia Tops 2018 RECMA Rankings
  • Media

OMD Australia Tops 2018 RECMA Rankings

OMD Australia has taken the top spot for Australia’s Number 1 media agency in size, according to RECMA’s 2018 ‘Overall Activity Volume Rankings’ report released last week. Additionally, the company was named first in profile classification with a dominant profile for the 3rd consecutive year, along with vitality ranking and structure ranking. Furthermore, OMD Australia was also named […]

Red Agency Bolsters Sydney Team
  • Media

Red Agency Bolsters Sydney Team

Judging by the image, it seems Red Agency may have had no staff whatsoever prior to this hiring spree.

Nine Appoints Editor For 9Honey
  • Media

Nine Appoints Editor For 9Honey

B&T's editor coincidentally spilled honey on his shirt while typing this. And by typing, we mean copy and pasting.

Y&R Sydney Scores Best&Less   
  • Advertising
  • Media

Y&R Sydney Scores Best&Less  

Y&R wins Best&Less amid rumours the clothing shop its changing name to 'Somewhat OK&Reasonably cheap'.

Women In Media Profile: Judy Sahay
  • Media

Women In Media Profile: Judy Sahay

B&T's Women in Media profiles are like a wave washing over you. Even more so if an actual wave washes over you.

by B&T Magazine

B&T Magazine
How B2B Companies Can Use Their Customer Data More Effectively (And Why They Need To)
  • Marketing
  • Opinion

How B2B Companies Can Use Their Customer Data More Effectively (And Why They Need To)

In this opinion piece, SalesPreso co-founder and CMO Joel Thomson (pictured below) explains how B2B companies can use their data more effectively and deliver a personalised customer experience that matches their B2C counterparts. From the Cambridge Analytica scandal to the EU’s recent GDPR legislation, this year has prompted individuals all over the world to consider […]

Opinion

by B&T Magazine

B&T Magazine
M&C Saatchi Launches THIS Film Studio
  • Advertising
  • Marketing
  • Media

M&C Saatchi Launches THIS Film Studio

Not one to rest on its laurels, M&C Saatchi unveils new production studio it hasn't called 'Not One To Rest On Laurels'.

Creative Agency Launches Project Management Tool ‘Hassl’
  • Advertising
  • Technology

Creative Agency Launches Project Management Tool ‘Hassl’

Yesterday at TedX Melbourne the team behind award-winning, Melbourne-based agency Your Creative launched their new tech venture Hassl, the project management platform taking on Trello and the likes. With the belief there was a better design solution to project management, the platform has been developed over the last two years in collaboration with their clients. […]

ABC Axes Tom Ballard’s Tonightly
  • Media

ABC Axes Tom Ballard’s Tonightly

It's one of the ABC's edgier, controversial shows, but Tom Ballard's proven too edgy and controversial for ABC chiefs.

Taboola Strengthens APAC Programmatic Offering With New Partnership
  • Advertising
  • Media

Taboola Strengthens APAC Programmatic Offering With New Partnership

Global discovery platform Taboola has announced a strategic partnership with Wider Planet, Korea’s largest demand-side and data management platform. The partnership builds on Taboola’s programmatic efforts in Asia-Pacific, and will bring together Korea’s largest demand platform for agencies and brands to provide access to Taboola’s global audience through premium publisher placements. The partnership means advertisers […]

The Haus Picks Up Two New Clients
  • Marketing

The Haus Picks Up Two New Clients

The Haus announces two new client wins. Admittedly, not as good as winning three, but far better than losing four.