Online video still proving a hit
Online video is continuing to prove popular in the UK, with advertisers contributing to significant spending increases on the channel this year.
Online video advertising continuing to prove its value
Friday, October 15 2010 by Andy Carter
Online video advertising is booming in the UK, with a five-fold increase across this category over the last two years suggesting that its popularity among internet marketing consultants and search engine optimisation specialists is only growing.
The value of pre and post-roll video advertising increased by £20.7 million in the first half of 2010, according to the latest research from the Internet Advertising Bureau (IAB).
Alongside social and performance marketing such as pay per click advertising, online video has helped contribute to an industry-wide spending boost of ten per cent in the UK.
UK marketers invested nearly £2 billion in the first six months of this year, with some of the more significant growth in online display.
Video is already proving popular among UK mobile users, with recent research by comScore indicating that British mobile owners watch more video than any other country in Europe, as a proportion of the nation’s population.
IAB chief executive Guy Phillipson praised the return of double-digit growth to the UK advertising industry, particularly the strength of video.
He explained: “The effectiveness of social and video ads for classic brand building is reflected in these formats enjoying exponential growth.
“Add to that the clear accountability of performance marketing online, and we have a channel which now commands a quarter of total UK advertising spend.”
This growth in online advertising has helped to lift the medium to a 24.3 per cent share of the entire UK advertising market.
Within the display category, video is still well behind traditional banners, which drives the bulk of ad spend. A total of £272 million was spent on banner advertising, which makes up 72 per cent of the total online display ad category. This makes the £20.7 million spent on online video appear somewhat paltry.
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