Media buyers are channelling more of their TV advertising budgets towards online video in an attempt to increase brand awareness, according to a new study.
The report from ad network Web TV Enterprise found that 40 per cent of television buyers use video campaigns, with 31 per cent saying they had used these internet marketing services more than ten times in the past year.
Just 19 per cent of those surveyed said click through rates are very important to the success of online video ads, indicating that they are viewed more as a tool for driving brand awareness.
Some 63 per cent of media buyers said they will increase their budget for online video by up to 50 per cent this year, while a further 13 per cent intend to raise spending by more than half.
Web TV Enterprise managing director Jamie Estrin said web-based video currently accounts for around three per cent of UK TV ad spending.
"While online video is still in its infancy, the market is starting to mature," he commented.
Recent research by ITV and the Direct Marketing Association showed using TV and online advertising in tandem can boost audience response rates by around 175 per cent.
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