Online video no longer a second class citizen
A round-up of the Video Advertising Summit
Yesterday Adjust Your Set attended the M&M (media & marketing) Video Advertising Summit held at the Institute of Physics. There were a number of industry experts speaking, from Google, comScore, AOL Advertising and Reckitt Benckiser, all debating the issues surrounding video advertising over the past year and what we can expect in 2012.
The summit addressed various trends and themes in the industry, some more prevalent than others, but overall the consensus was – times are changing and online video can no longer be considered a second class citizen.
Below are a few key points from the summit:
- Mobile has been playing an increasingly significant role in marketing. Mobile now accounts for 20% of all video views in the UK and 83% of consumers browse the web on their mobile. YuMe and Aegis presented mobile video case studies for both Adidas (Mi coach app) and Regaine.
- Bruce Hoang from Orange Advertising Network asked “how to turn the coach potato into the golden egg?” as he debated multi-screen viewing in the living room. Apparently, only a third of people who are multi-tasking while watching TV are actually doing something related to what they’re watching.
- Social TV was a widespread topic yesterday with M&M Global asking if “a TV social application is the way to bridge the TV and the digital platforms?”
- Video agencies and video strategies were a hot topic during the panel session at the end of the day with Chris Gorell Barnes, CEO of Adjust Your Set stating that “brands need a video strategy and to think like media companies to create ongoing dialogue with audiences”.
- Questions that left the audience at the summit pondering included; will brands start adopting more ‘boutique’ video agencies? And, are we in the year of the Video Agency of Record (VAOR)?
Overall the summit raised some interesting points and left us contemplating several questions. It’s clear the industry has woken up to the benefits and significance of online video, particularly with connected TVs becoming more widespread, but challenges over monetisation and regulation still need to be clarified. The day ended with the panel agreeing that we will see a shift from monetising content, to monetising the audience.
Best videos of the summit:
And of course, we couldn’t attend a Video Advertising Summit without viewing some fantastic examples including the VW Darth Vader commercial and the Ojai Valley Taxidermy TV Commercial. These were definitely our favourite of the day!
VW Darth Vader