Aussie digital video growth is all about brand

Spending on digital video advertising in Australia grew 48% in 2021, latest IAB figures show, with brand building a key driver.

According to the 2022 IAB Australian Video State of the Nation Report, $2.9 billion was spent on digital video advertising last year. Three quarters of buyers (74%) are continuing to invest or are increasing their investment in digital video ad formats as a way of expanding the reach of their TV campaigns.

Why it matters

The shape of the market is changing, with the use of connected TV for increasing brand awareness now on par with linear TV. The report also notes that digital video on computer and mobile is frequently used for other brand-related objectives, such as informing/educating and purchase intent, as well as to increase sales/conversions. 

Measurement and metrics 

• Agencies are increasing the use of market mix modelling (up to 47% from 32% in the last survey) and brand lift studies, while reducing the use of multi-touch attribution modelling.
• Agencies are generally working collaboratively on campaigns across linear TV and digital video, but media is very often bought by different teams.
• IAB Australia expects the launch of Ipsos iris content ratings (which will measure video audiences across computer, smartphone, and tablet along with integration of OzTam CTV audience data) will be a significant step forward for cross-screen media planning.

Other findings

• The breadth of video ad formats and environments being embraced by buyers is expanding, with more than half of the respondents using the most popular eleven formats.
• Creative is a critical contributor to campaign success, yet 46% of agencies rarely or never develop digital video advertising creative for a specific media environment.
• There has been no change in the proportion of respondents addressing people-based marketing, despite this a vital response to the end of third-party cookies.

Sourced from IAB Australia [Image: Pexels]