Nearly three in every four ad dollars flowing into online and OTT video is coming from TV money, according to a recent study from AOL’s global branded content platform Be On.
The majority of online video spend in the last 12 months is coming from budgets previously reserved for TV advertising, according to a recent worldwide study conducted by Be On, the new AOL global branded content business. Although TV is considered a key awareness driver, 78% of respondents in Europe and 58% globally said they could achieve greater engagement and scale with online video.
More than 770 industry experts from leading brands, media and creative agencies in the UK, Europe and North America were asked about their experiences of using branded online video when planning online advertising campaigns.
According to the research, 73% of respondents said online video spend had increased over the last 12 months. TV and display were cited as the two main sources where budget has been taken.
Of those surveyed, 84% believe the Internet is fundamentally becoming a rich brand medium with engaging interactive opportunities to connect with consumers.
Full image here.
Other key findings include:
"The results of our study show that branded content has become an important part of global advertising strategies," said René Rechtman, SVP AOL Networks International. "We know that content drives engagement and conversation online and, more than ever, we are seeing that brands want to tell their story through content. With Be On, we are offering brands the opportunity to stand out from the crowd and reach a highly targeted and desired audience at scale, globally. "
Building on the launch of AOL Network's new branded content business Be On, this study reflects the industry's growing interest in online video content. Be On is a new end-to-end platform which gives advertisers the tools to create, syndicate and measure premium content that people want to watch and share across all devices.
The survey conducted by AOL Networks was carried out on Survey Monkey between 21(st) March and 3(rd) April 2013. 772 respondents primarily from media, brand and creative agencies in North America and Europe participated in the survey.
AOL also recently partnered with Qualvu and released a new study designed to provide insight into how consumers perceive ads within both long- and short-form premium video content. What they learned may surprise you. The study found that ads in short-form content actually produce significantly higher recall, brand affinity and purchase intent than those in long-form content. The study revealed that TV and display are the main budgets where agencies in Europe, the United Kingdom and North America are drawing resources from and diverting to online video. In addition, about 84 percent of agencies said they believe the Internet is fundamentally becoming a “rich brand medium with engaging interactive opportunities.”
Additional findings include:
In addition, the brand, media and creative agencies surveyed said that while TV is a strong awareness driver, they can achieve more scale and engagement with online video.
Beet.tv recently caught up with Rene Rechtman, SVP AOL Networks International about the the company’s work in online video.