IAB launches local video advertising council
Reflecting the growing importance of online video as an advertising channel, IAB Australia has launched its Video Advertising Council.
Launch members include Adaptv, Foxtel, Google, MCM, MCN, VENA, SpotXchange, SBS, TEN, TubeMogul, TVN Videology, and Yahoo!7, with more organisations expected to join in the coming months.
Digital video advertising uptake locally is lagging that of the US. In the December quarter in Australia it represented 15 per cent of the display market versus 22 per cent in the US. IAB Australia CEO Alice Manners explained, “The potential growth of the digital video market in Australia is indisputable and the Video Advertising Council will be actively focusing on making video ad trading easier and more effective.”
The initial areas of focus for the Video Advertising Council include :
- Providing the market with case studies and research studies reviewing the ROI of video advertising;
- Reviewing current technical specifications, standards and guidelines;
- Providing market guidance for viewable impressions for video ad units;
- Audience and campaign measurement across screens for video content.
The group is also watching the issue of video advertising fraud, and it will coordinate with the IAB Brand Safety Council — which is due to launch formally in the coming months. IAB’s Director of Research, Gai Le Roy, said “We are very excited about the formation of new IAB Councils that leverage the skills and experience of the entire digital advertising industry to address the most current issues facing our industry today.”
Back row (including the two sitting on lounge arms): Cora Spear (Yahoo!7), Ian Swindells (Network Ten), Alice Manners and Gai Le Roy (IAB Australia), Anis Fanaeian (VeNA TV) and Matt Von der Muhll (SpotXchange). Middle row: Nick Young (MCN), Suzie Cardwell (Foxtel), Oliver Grundy (Google) and Sarah Wyse (Videology). Front row: Peter Ostick (TVN) and Mitch Waters (Adap.TV). Missing: Sam Smith (TubeMogul), Caroline Bartle (SBS) and Chris Derrick (MCM Media).
Recent IAB research in the US found the vast majority of brand marketers and advertising agency executives expect original digital video programming to become as important to their businesses as television advertising within the next three to five years. According to the IAB, the study also found that nearly two-thirds of advertisers (65 per cent) anticipate that they will spend more on digital video advertising in 2014 than they did in 2013.
The IAB says digital video advertising growth is being driven by factors such as cross-screen campaign uptake, increase in mobile video inventory, video advertising as a branding platform and development of more sophisticated programmatic options. “The surge in video consumption has heightened the need for advertisers to find ways to address both audience and device fragmentation.” says and the IAB statement.