SYDNEY: Australia's online marketers are predicting a boom in video advertising through the next 12 months. Advertisers are re-tooling television commercials for the web in preparation for much-vaunted improvements in broadband speeds down under.
Earlier in the year News Corporation coo Peter Chernin hyped: "I expect to see dramatic increases for video advertising across all properties on the web. I think it will maybe rival [internet] search as the fastest-growing area of advertising in the industry over the next several years."
Digital marketing technology firm Eyeblaster says it has seen a 250% increase in the number of video ads it has delivered to Australian online users during the past year.
The company's director of operations for Asia-Pacific, Mick O'Brien, says: "Online inventory won't double but the volumes of video and rich media going online will.
"I don't see standard banner ads being around in the next three to four years. Why would you run a banner ad when you can run rich media with video?"
Zenith Optimedia partner Matt Houltham won't condemn banner adds to an early death, but concedes "about 20%-30% of the ads we show at the moment are video ads but we would expect that to double in the next 12 months."
He adds: "There's been incredible growth in video advertising in the past six months and massive growth in the availability of multimedia content."
Data sourced from Sydney Morning Herald; additional content by WARC staff