LONDON: The great majority of the UK's media professionals expect that spending on video ads will overtake that on static ad formats in the next five years, with a significant minority anticipating the shift will take place within the next two years.
ExchangeWire Research surveyed 120 digital marketing professionals for its report, UK Mobile & Video Advertising Truths, and found that 95% of buy-side respondents and 89% of sellers believed that video ad spend would eclipse spend on static formats in five years' time.
The selling side was slightly more optimistic about a shorter timetable, with 42% thinking the tipping point would come in two years' time, compared to 36% of buyers.
There was also broad agreement on the merits of video advertising which was seen as more engaging than traditional banners by 83% of buyers and 72% of sellers - the 11 percentage point gap can be explained by differences in how each group defines "value", the report said.
Where a major difference of opinion was evident, however, was in whether publishers are doing enough to maximise the potential of mobile video advertising: three quarters (75%) of media buyers thought they were, but just 40% of media sellers agreed.
ExchangeWire suggested that as the latter were "at the coalface developing the capabilities to serve more innovative mobile video ads, across more targeted audiences" they were more cautious when evaluating if they were doing enough.
Sellers were also more aware of new video formats than buyers, the report said, adding that media buyers needed to be educated as to how best to utilise these.
Views also differed on what was likely to be the "next big thing" in video, with sellers most excited about the possibilities of location-based video (33%) offered by data, while buyers were more interested in the immersive experiences promised by 360 degree video (43%) and VR (32%).
Rebecca Muir, head of research & analysis at ExchangeWire, highlighted the widespread use of social platforms as a factor in the shift to video, and to mobile video in particular, along with the uptake of 4G- and 5G-enabled phones.
Data sourced from ExchangeWire; additional content by Warc staff