Brightroll, an online video network, released its third annual survey of agencies and their buying habits and attitudes. Brightroll reported that online video is included as a component in 27 percent of agency RFPs. Media buyers predict the largest overall spending increases in 2011 will be in online video, mobile video and social.
Where will the share of spending coming into online video come from?
More than 80 percent of media buyers say they are shifting spending out of display and into online video. About two-thirds will shift dollars out of TV. About a quarter of buyers will shift spending from search, social and direct response.
Brightroll reports that online video is attractive to buyers because of its reporting, research and targeting capabilities. However, the cost of online video keeps a lid on spending.
What’s going to break online video wide open? Most (96 percent) of media buyers agree that “research provides value to clients,” but only 35 percent actually conducted research. More research is needed in areas such as online video versus TV performance; change in purchase intent or brand lift; audience profiling; brand effectiveness; impact on offline purchasing behavior; and translation of GRP to online video buying.