The Interactive Advertising Bureau (IAB) has formed a Video Advertising Council on the back of a 72% leap in digital video advertising between 2012 and 2013.
Launch members of the newly formed council include Adaptv, Foxtel, Google, MCM, MCN, VENA, SpotXchange, SBS, Ten, TubeMogul, TVN Videology and Yahoo!7. More organisations are expected to join in the coming months.
“The potential growth of the digital video market in Australia is indisputable and the Video Advertising Council will be actively focusing on making video ad trading easier and more effective,” Alice Manners, CEO of IAB Australia, said.
The IAB said the surge in video consumption has heightened the need for advertisers to find ways to address audience and device fragmentation.
The initial areas of focus for the new Video Advertising Council include:
“Providing the market with case studies and research studies reviewing the ROI of video advertising;
Reviewing current technical specifications, standards and guidelines;
Providing market guidance for viewable impressions for video ad units;
Audience and campaign measurement across screens for video content”
The Council will also address video advertising fraud and will work with the yet-to-be launched IAB Brand Safety Council on the issue.
Digital video ads accounted for 15% of the display market in the December 2013 quarter, a 72% jump from the December 2012 quarter. For more on the recent PwC Online Advertiisng Expenditure Report see B&T’s coverage here.
A recently released IAB US study also found that marketers and advertising agency executives believe original digital video programming will become as important as TV advertising within the next three to five years.
Gai Le Roy, IAB’s director of research, said: “We are very excited about the formation of new IAB Councils that leverage the skills and experience of the entire digital advertising industry to address the most current issues facing our industry today.”
IAB Australia Video Council 2014 Members:
Back row (including the two sitting on lounge arms): Cora Spear (Yahoo!7), Ian Swindells (Network Ten), Alice Manners and Gai Le Roy (IAB Australia), Anis Fanaeian (VeNA TV) and Matt Von der Muhll (SpotXchange) Middle row: Nick Young (MCN), Suzie Cardwell (Foxtel), Oliver Grundy (Google) and Sarah Wyse (Videology)