Companies Spending 2X More on Online Video Over TV Ads
Media buying, or the purchasing of media inventory, has been an integral part of television advertising for decades. However, online video advertisements are about to double that of their television predecessor. With social media and influencer advertisements, products no longer need a large 5th avenue advertising firm to purchase their media. Instead, companies are turning to the world of online video for their ROI.
Doubling the Spend
According to an article in Marketing Dive, companies are set to spend $135 billion on online video this year, which is about 2x the $71 billion companies will spend on TV. Social media is proving its profitability with the ability to target niche demographics at a fraction of the cost of television media buys. Concepts Video specializes in producing online video content for social media.
Online Video
We are officially in the golden age of video. The Magisto Report shows that “companies are embracing video marketing because their efforts can be easily scaled up and the content is effective at creating an emotional engagement while providing the easy delivery of digital advertising.” From short films to pre-roll advertisements, influencer marketing to how-to’s, video is king of the online world.
With the advancement in camera and phone technologies, the majority of adults living in the United States have the ability to become content creators. Marketing Dive says that, “as they produce more videos, companies are taking more of the responsibility in-house, with 64% of marketers saying they create content internally compared with 38% who use an agency.”
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