Video is here to stay, but the way in which audiences are consuming video advertisements will be ever-evolving. This past year, digital video on desktops and mobile apps began to hit a plateau when it came to viewer growth, engagement, and ad spend, while CTV and OTT gained a stronger foothold in the industry.
Although the platforms in which users are consuming video are changing, the key is to look at video holistically, and not just by device type. When planning a video campaign, all platforms need to be taken into consideration, including programmatic video, OTT, CTV, cable, broadcast, and social video. The best and most strategic campaigns will take all these avenues into consideration to plan a cohesive campaign. The beauty of viewing video as an overall video strategy across these mediums allows you to shift dollars in accordance with shifting user behavior and doesn’t lock budgets into unnecessary silos.
The positive thing about what seems to be a limitless increase in platforms is the increase in which to reach our target audience. Increasing reach is typically always positive — Especially for clients who are more familiar with traditional television buying, this is a great opportunity for them to somewhat remain in that comfort zone, just on a new “channel.”
The process in which to purchase inventory has taken steps to become more efficient and fair. Header bidding is specifically a win for publishers, as it allows them to better monetize their ad inventory. It can also be a win for advertisers, as it is a more equal playing field and an advertiser in a “lower tier” will have the same opportunity at the inventory as an advertiser in a “higher tier” of the waterfall.
Even though the inventory for OTT and CTV continues to grow, there are still a few areas of concern. For one, omnichannel identity and cross-platform measurement standardization are key areas of concern. Video must be thought of as a holistic channel, but these two challenges make the comprehensive measurement of video efforts more challenging. The key is to do the best with what we currently have, while also pushing as an industry for solutions in both of these areas.