A dramatic increase in the prevalence of video marketing has meant brands are beginning to see the benefits of content based marketing.
That was one of the findings of Preferred Media’s Moving Images Moving Landscape Report 2019, which you can download here.
The report, which surveyed 189 people from across all areas of the media, finds marketers are going full-steam ahead when it comes to video content, experimenting with different formats.
Their top marketing channels for video content are social media, online advertising and television.
Spend on outdoor advertising dropped significantly, from 42 per cent of respondents listing it as one of its key budget channels last year to just 20 per cent this year.
Online advertising on the other hand, is shown to be both popular and effective.
While 90 per cent of respondents said they now use online advertising as a key channel, 100 per cent of people listed it as effective.
There has been a lull in the perceived performance of TV advertising, down from 71 per cent of respondents listing it as effective in 2018 to just 40 per cent this year.
Advertisers are also becoming more experimental with the video formats they select, with more than 30 per cent of respondents using live streaming, personalised video and vertical video.
Is Netflix playing by the rules
Online streaming services like Netflix and Stan came under scrutiny in the report.
In particular, 90 per cent of respondents said that these streaming services should face similar local content requirements as broadcasters do.
And despite the fact 60 per cent of Australian households have signed up to one or more subscription video on demand (SVOD) services, content producers are still struggling to sell their content.
Funding is getting harder according to 81 per cent of respondents, with 52 per cent saying it is significantly harder.
For all the insights, you can check out the entire report here.