Australian marketers are keen to exploit the new possibilities presented by online video with 85% of them to increase their ad spend in the area, according to TubeMogul.
A survey of of 14,500 US, UK and Australian marketers by programmatic video ad buying company TubeMogul found Australian marketers embraced video advertising more heartily than their UK and US counterparts.
While 85% of Australian marketers said they would increase their investment in online video, in the US it was 76%. The 85% figure also stood in contrast to 5% of marketers who said they planned to increase their TV ad investment.
Ninety-five of local marketers said they believed online video complements their TV spend, compared to 52% in the US and 82% in the UK.
TubeMogul revealed the average net CPM price for openly available real-time bidding ad inventory in Australia is $13.07. The company argued the price, which is double that of the US CPM, is a reflection of a lack of inventory.
TubeMogul managing director Stephen Hunt said: “Australia is one of TubeMogul’s most successful markets because brand marketers and media agencies recognise the power of using programmatic platforms to deliver video ads to digital audiences. They are also crediting video ads with delivering powerful brand lift and aiding purchase intent for their products.”
Additionally, the survey found 25% of online video ads are served using programmatic platforms. Video ad completion rates are also found to be almost 80%.
Earlier today, the latest PricewaterhouseCoopers Entertainment and Media Outlook predicted online video advertising will lift at a compound annual growth rate of 44.1% to $559 million by 2017.