Business development managers who attended the Digital Content NewFronts conference in New York City back in May seem to have had a blast, but won’t have been aware of the findings of a newly-released attendee poll conducted by the Interactive Advertising Bureau.
The power of digital video
Of the five thousand people who thronged to take part in the event, a third of the buy-side attendees said the online advertising industry marketplace had influenced them in favor of buying digital video ads, while nearly three quarters (70 percent) of the marketer and agency attendees believe that a significant budget shift from TV to digital video will take place over the next year.
Growing numbers of business development managers and search engine marketing specialists are, it seems, thinking digital video – big time.
The week, the second annual event of its kind, featured 17 knock’em-dead presentations from a glittering line up of Adland’s big names, including AOL, Yahoo, CBS Interactive, Hulu, Zynga, Microsoft Advertising, The Wall Street Journal, Condé Nast Entertainment, Disney Interactive, DigitasLBi and The Weather Company.
The IAB’s CEO and President, Randall Rothenberg, said, “This year’s Digital Content NewFronts not only shined a spotlight on the depth and breadth of original online programming available in the marketplace – but also provided a pivotal turning point in the minds of many media buyers, who now grasp digital video’s power and reach.”
He added, “Presenters brought out major talent, and showcased comedy, documentary, news, reality, music, games, and services programming of such originality and impact that major advertisers realized they have to get involved.”
The survey polled attendees who had participated in at least one event, with lists supplied by the presenting firms, and the IAB says it plans to continue conducting such research in forthcoming NewFronts events in order to learn from them.
For business development managers who’ve been following the trends, the shift of interest toward digital video will come as little surprise. An earlier survey by ComScore revealed that the number of Americans who viewed digital video ads doubled to 11.3 billion between January and December 2012. Figures like that led AdDigital CEO Cameron Yuill to confidently predict earlier this year that online video viewing would double every two years until every single online ad was a digital video.