In a new Interactive Advertising Bureau (IAB) study released on Monday, three out of four brand marketers and advertising agency executives said they expect original digital video programming to be as important as TV programming within the next three to five years.
Additionally, sixty-five percent of the 297 ad-buying executives polled for the study, which tracks advertiser attitudes towards the evolving digital video medium, anticipate that they will spend more on digital video advertising this year than they did in 2013.
And where will those budgets to create the new digital content migrate from? TV advertising, of course.
The increased attention and spending with regard to original digital video content has already begun: execs polled for the study by research firm Advertiser Perceptions figured that they would spend 48% of their video budget this year on “made for digital” video, up from 44% in 2012.
Forty-eight percent of the survey respondents also expected that ad budgets will expand to support their digital video spend increase.
But the optimism is tempered by a caveat – the marketers and advertisers agreed that digital content providers must support the increased spending by providing digital metrics consistent with TV to demonstrate digital’s effectiveness in sales and branding.
Respondents were surveyed online between April 1-16, and needed to be involved in digital video or TV advertising decision-making for a company responsible for $1 million-plus total ad spend in 2014 to qualify.
The IAB study was published in conjunction with Digital Content NewFronts, currently underway in New York.