Digital media and marketing professionals are bullish on video ad spending, find Adap.tv and Digiday in their latest semi-annual “State of the Video Industry” report released today. Brands reported an average 65% increase in spending this year over last, with agencies upping their expenditures by 83%. And the dollars should keep coming: roughly 9 in 10 brand and agency respondents plan to increase video ad spending next year. So where’s that money coming from?
TV is the likely answer, and the study results bear that out. 31% of brands said they would pull from broadcast TV (up from 19% last year), while 10% said they would draw from their cable budgets (down from 13% last year).
Interestingly, though, the most common response from brands was that video budgets would be incremental: 33% said their spending wouldn’t come at the expense of any other category. That’s up from 26% stating the same last year. Read the rest at MarketingCharts.