SANTA MONICA, Calif. – Ad agencies and brand managers are adopting cross-screen media buying – traditional TV and digital video – but that adoption has been slow and cautious, says a new survey from VideoAmp, a video ad tech company.
The survey of brand managers and media-agency executives conducted in October 2017 finds that just 16 percent of their current TV and TV video budgets have been used in an integrated cross-media platform approach. Roughly two-thirds of marketers will increase spending on cross-screen media but only slightly, to 19 percent in 2018.
One reason for the caution: just half of executives believe that TV and digital video is “somewhat complementary.” Roughly 30 percent say it’s “extremely complementary,” and 8 percent say it’s “neither complementary/competing.” Six percent believe that TV and digital video are “competing” with each other.
Insiders say the need for better audience data for all TV and video screens is one roadblock. Specifically, executives want more targeting, measurement, and attribution. They add that there’s a lack of coordination between TV and digital video planning and buying, and a lack of early defined best practices, processes, and platforms.
In related news, the Interactive Advertising Bureau (IAB) and the American Association of Advertising Agencies (4As) have just released new terms and conditions for long-form video. The last update was in 2009.
The revised guidelines define long-form video as “professionally produced content, eight minutes or longer in duration that is dynamically ad served, and delivered in a digital environment.” The addendum also includes sections addressing viewability and brand safety, terms related to audience compositions and demo-guaranteed campaigns, and cancellation and termination provisions for unified buys – such as when digital ad inventory is purchased alongside TV ad inventory.
IAB says the guidelines will “help facilitate smoother delivery of video ads” and “help ensure more relevant quality ad experiences over the long term.”
The two organizations say digital video now represents more than $9 billion in annual ad spend with a growth rate that has surpassed display, search, and social media, but that there’s still an need to streamline the way buyers and sellers transact around scarce ad inventory in TV and TV-like content for digital, upfront, and extended period contracts.
The addendum was written to be aligned with the Media Rating Council’s Digital Audience Measurement Guidelines, which were unveiled last month, to prevent any ambiguity between the two.
The group also says it’s hoped the addendum will:
- Give agencies and publishers a better starting point for inventory negotiations.
- Elevate video as a channel-neutral strategy.
- Unify the TV and digital sides of the business.
- Facilitate an easier way to move eyeballs between TV and digital.
- Give agencies and clients better and fluid control on attaining brand communication goals.
The public can comment through Feb. 5, after which an IAB and 4As working group will incorporate feedback and revise the addendum.