By Rob Cootes
It appears that as a nation we are voracious viewers of digital content and, according to comScore, spend more time online than consumers in any other European country. The research giant found that 83 percent of the UK online population watches videos, and in July 2013, 38 million people watched more than 10 billion videos.
Understandably, advertisers are starting to realise the tremendous opportunity digital video brings to reach targeted audiences across multiple devices. Simply put, brands are following their audiences online.
Indeed, many UK advertisers are convinced digital video now delivers strong impact and ROI, and they see it as a big complement to TV to reach connected British consumers. Of the 150 top media agency execs surveyed for this year’s report, 23 percent of respondents see video as more effective than TV – a 29 percent increase from 2012 – while 38 percent believe video ads are more effective than social media.
UK advertisers are confident in digital video and its ability to reach targeted, multi-screen audiences and build lasting brand engagement among British consumers. The report found that 52 percent of UK agencies say that half or more of their RFPs now include a digital video component, compared to just 28 percent in 2012. On top of this, 27 percent of UK agencies say online video is the media category that will account for the largest increase in spending in 2013. By contrast, just 7 percent of respondents say the same of TV and 5 percent highlight social media.
And much of this is down to the improvement of measurement techniques. As advertisers have gained confidence in digital video, they are adopting more sophisticated targeting tactics and looking to gain critical insight into how, where and with what impact video ads reach key audiences.
Shifting focus to mibile video, comScore stat show the UK online video audience has grown 8 percent in the past 12 months, and within that mobile video has grown an astonishing 262 percent. The UK is one of the world leaders in mobile adoption – presenting unique opportunities for advertisers to reach consumers via smartphones and tablets.
According to our research, UK advertisers are most likely to increase spend on mobile and tablet video advertising in the coming year, underscoring UK consumers’ growing preference for watching video on mobile devices. Some 79 percent of agency respondents are likely or very likely to devote a portion of their video ad budget to mobile video in 2013, and 72 percent are interested in increasing spend on video ads for tablets.
With the increasing number of screens in the average living room, digital video looks set to be the most powerful cross platform media for brands over the coming years.
Download a full copy of the report at http://www.brightroll.co.uk/_research/industry-reports/
About the author
Rob Cootes is Director of UK and International Business at BrightRoll.