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iabeurope.euATTITUDES TO DIGITAL VIDEO ADVERTISING REPORT 2018iabeurope.euExecutive SummarySECTION 1IntroductionSECTION 2Methodology and ParticipantsSECTION 3Current AdoptionSECTION 4Objectives and MeasurementSECTION 5Digital Video Inventory SupplySECTION 6Cross-Screen: TV and Digital VideoSECTION 7Future of Digital Video AdvertisingWith ThanksContact DetailsIAB Europe is the leading European-level industry association for the digital advertising ecosystem. Its mission is to promote the development of this innovative sector and ensure its sustainability by shaping the regulatory environment, demonstrating the value digital advertising brings to Europes economy, to consumers and to the market, and developing and facilitating the uptake of harmonised business practices that take account of changing user expectations and enable digital brand advertising to scale in Europe.Contents2IAB EUROPE ATTITUDES TO DIGITAL VIDEO ADVERTISING REPORT 20183456101214161718iabeurope.euThe third annual IAB Europe Attitudes to Digital Video Advertising report highlights the following key findings: Digital video is an integral part of multimedia planning and buying adding effectiveness (incremental campaign reach) and efficiency (decreasing cost of contact) elements to Linear TV campaigns. More than half of advertisers believe that combined TV and video campaigns help drive incremental reach. Advertisers are using a more sophisticated range of metrics to assess media effectiveness (brand awareness, cost per completed views, deduplicated reach and frequency, audience and brand safety verification), and the impact of digital video on brand- and sales-related outcomes. Publishers are embracing video formats to support growing user and advertiser demands, attracting more brand spend. The number of publishers reporting that over 80% of their inventory was video grew by 72%, from 16% in 2017 to 28% in 2018. The share of digital video traded programmatically is growing - approximately 90% of all stakeholders are using a Private Marketplace (programmatic direct) and a quarter of advertisers buying more than 60% of their digital video inventory via open RTB. Out-stream continues to increase but in-stream still dominates. Whilst out-stream video advertising investment continues to grow for advertisers and agencies, in-stream and in-banner video advertising still attracts the largest overall investments. Decline in the use of repurposed TV content for digital video advertising campaigns. This decline has been counterbalanced with many more advertisers opting for a blend of both repurposed TV content and original content. Surprisingly though, almost 20% of advertisers are still solely using repurposed TV content for mobile video. Investment in digital video advertising is set to increase in the near future. Over 90% of respondents cite an increase in the next 12 months. 3Executive SummaryWe clearly see from the research the big shift into video, with publishers ramping up the volume of video inventory they carry. While generating higher CPMs for publishers, video delivers the impact and engagement that brands crave, helping persuade marketers to invest more in digital.Roger Williams, VP, International Marketing, PubMaticiabeurope.euSECTION 1Digital advertising in Europe is now a 48bn market which continues to be driven by video and mobile. Indeed, digital video increased by 35% from 3.9bn in 2016 to 5.3bn in 2017. Further, the digital video market is now programmatic first. In order to understand this growth and the adoption of digital video advertising across Europe, the ways in which video is being traded on both the buy-side and sell-side, and what the future holds, IAB Europes Video Task Force and Research Committee developed the Attitudes to Digital Video Advertising survey. The first report was published in 2016. Now in its third year, the survey ascertains and measures the following areas: Investment levels in digital video advertising Investment levels in devices and formats Objectives and measurements Inventory supply Cross-screen strategy The future investment of digital video advertisingThis report forms part of the Video Task Forces objective to explore the video advertising landscape in Europe and drive the uptake of digital video branding campaigns. Related resources from IAB Europe include a Connected TV White Paper, the measurement of video ad spend in the AdEx Benchmark report and a library of ad effectiveness video case studies.In 2019, IAB Europe aims to provide clarity and transparency on the digital advertising measurement landscape via a new Effectiveness Measurement Framework initiative. The objective is to enhance understanding of the methodologies and products available as well as the key measurement challenges and expectations on the buy-side. In the first phase we will survey measurement supplier to find out more about the current practice of and future vision for effectiveness measurement, and how the existing tools and capabilities support marketers calls for accountability and transparency. Find out more about this initiative here. Introduction4iabeurope.eu5SECTION 2IAB Europe used an online survey with the help of the European national IAB network to ensure a representative sample across European markets. The survey received approximately 400 respondents between November 2018 and February 2019. The responses came from advertisers, agencies and publishers in 31 markets. Respondents had local, pan-European and Global remits. IAB Europe members can access the full data set by contacting Marie-Clare Puffett (contact details at the end of this report). Methodology and ParticipantsFigure 1: RespondentsIn your role which region / market(s) are you responsible for?n Global remit (42)n Pan-European remit (58)n Local remit (453)As the re-alignment from linear video continues, IAB Europes Attitudes to Digital Video Advertising Report highlights the rapidly changing face of our industry. Significant year on year trends such as the continued rise of RTB and the growing adoption of the Out-stream format, show that this flourishing industry is rapidly maturing and our understanding needs to keep up with this pace of change.Phil Sumner, Global Media Insights Director, TeadsAdvertisers 41Agencies 134Publishers 98iabeurope.eu6SECTION 3Digital video adoption continues to grow year on year and is starting to challenge traditional Linear TVDigital video now plays a more notable role amongst agencies and advertisers as the investment share in digital video continues to expand. For the majority of buyers, digital video is becoming a substantial part of their strategy. Over half (52%) of respondents are spending between 20-80% of their total digital advertising budget on video. Overall significance of video advertising including linear and digital is growing among advertisers whereas agencies are trying to diversify and balance between different options with slight investment decreases to linear TV and an overall increased investment to digital. However, OTT growth is stagnating. Nearly two thirds (63%) of respondents said they spend less than 20% of their overall digital investments on OTT. Current Adoption Figure 2: Percentage of advertising investments / revenues in Digital Video, Linear TV and OTTWhat percentage of your companys advertising investment is in linear TV? What percentage of your companys advertising investment is in OTT Video? What percentage of your companys digital advertising investment is invested in digital video advertising? n Up to 20% n 20-80% n 80%+2 0182 0172 0182 0172 0182 017OTTLinear TVDigital VideoAdvertisers2 0182 0172 0182 0172 0182 017OTTLinear TVDigital VideoAgenciesSimilar trends are evident on the supply side. Publishers are reporting a significant increase in their advertising inventory for digital video. Nearly one third (28%) stated that more than 81% of their overall advertising inventory is now dedicated to digital video, compared to just 16% stating the same back in 2017; a 75% increase in just one year. 61 %57%26%37%39%67%13 %17 %48%50%48%27%3%13 %7%3%64% 16% 2%62% 13 % 2%29% 50%33% 49% 2%36% 53% 5%46% 45% 5%iabeurope.euPlease indicate the percentage of your planned yearly digital video advertising spending / revenue per buy type7SECTION 3 CURRENT ADOPTION Share of digital video traded programmatically is growing With approximately 90% of all stakeholders using a Private Marketplace the usage of audience data (programmatic direct) remains the leading method for digital video advertising buys. Inventory bought on open exchanges via open RTB protocols is also key to advertisers with a quarter of them buying more than 60% of their digital video inventory via open RTB. Figure 3: Percentage of annual digital video ad spend / revenue via direct buyingn 2017 n 20180% 1%-60% 60%+Advertisers0% 1%-60% 60%+Agencies0% 1%-60% 60%+Publishers15 %22%70%72%15 %6%10%12 %67%72%34%16%5%7%41 %56%54%37%Figure 4: Percentage of annual digital video ad spend / revenue via programmatic directPlease indicate the percentage of your planned yearly digital video advertising spending / revenue per buy typeAdvertisers Agencies Publishers0% 1%-60% 60%+ 0% 1%-60% 60%+ 0% 1%-60% 60%+20%6%65%83%15 %11 % 11 %12 %77%75%13 % 13 %19 %5%78%88%3%7%Figure 5: Percentage of annual digital video ad spend / revenue via open RTBPlease indicate the percentage of your planned yearly digital video advertising spending / revenue per buy type0% 1%-60% 60%+Advertisers0% 1%-60% 60%+Agencies0% 1%-60% 60%+Publishers30%12 %45%65%25%23%19 %16%69%71 %12 % 13 %36%38%57%51%6%11 %n 2017 n 2018n 2017 n 2018iabeurope.eu8SECTION 3 CURRENT ADOPTION When buying video advertising programmatically and finding the same inventory is available through multiple sell-side vendors, buyers now place more importance on performance KPIs as opposed to cost; in 2018 61% of advertisers rated performance KPIs as the most important factor. More traditional formats still dominate video advertising budgets Whilst out-stream video advertising investment continues to grow for advertisers and agencies in 2018, in-stream and in-banner video advertising still attracts the largest overall investments. In 2018, advertisers allocated 83% of their digital video investments to both in-stream and in-banner, whilst agencies allocated 91% to their preferred format of in-stream. Publishers have maintained consistent revenues from in-stream video formats, with 85% in both 2017 and 2018. Out-stream continues growth in digital video budgetsIn 2018, 70% of advertisers and 90% of agencies allocated budgets to out-stream formats. This is offset by a slight decline in in-stream formats for advertisers and in-banner formats for agencies. Indeed, 23% of advertisers allocated more than 41% of their budget to out-stream compared to only 12% of advertisers in 2017. In-banner video advertising is split amongst advertisers and agencies. Advertisers have increased their investment from 76% in 2017 to 82% in 2018, whilst agency budgets have reduced from 82% in 2017 to 78% in 2018. Figure 6: Digital video advertising investment / revenues per video ad format typeWhat percentage of your digital video advertising budget is allocated to each of the following digital video advertising format types? In-stream (e.g. pre-roll)In-banner Out-streamAdvertisersIn-stream (e.g. pre-roll)In-banner Out-streamAgenciesIn-stream (e.g. pre-roll)In-banner Out-streamPublishers81 %n 2016 n 2017 n 201888%82%63%76%82%64%62%68%86%91 %89%74 %82%77% 77%80%89%80%85% 85%53%65%63%69%72% 72%iabeurope.eu9SECTION 3 CURRENT ADOPTION Figure 7: Digital video advertising investment / revenues per deviceWhat percentage of your clients digital video advertising budget is allocated to each of the following devices?Mobile remains key device for digital video advertising investmentWhilst mobile is still the primary device for digital video advertising investment, connected TV continues to increase. With this, the investments in digital video advertising on desktop and tablet devices continue to decrease. 2 016 2 017 2 01878%93%91 %85%94%91 %89%95%91 %2 016 2 017 2 01880%86%88%92% 93% 94% 91 %90%87%2 016 2 017 2 01872%77%81 % 82%83%89%77%73%80%2 016 2 017 2 01823%30%27%58%40% 41 %43%58%51%n Advertiser n Agency n PublisherMobileDesktopTabletConnected TViabeurope.euSECTION 4Increased demand for digital video campaigns to drive Brand KPIs for advertising successIn 2018, 77% of advertisers and 89% of agencies cited driving brand awareness as the main objective for digital video advertising. This was closely followed by 56% of advertisers and 53% agencies considering digital video as a method to increase effective incremental reach when combined with TV advertising. Similar trends are evident on the supply side. Publishers are reporting a significant increase in their advertising inventory for digital video. Nearly one third (28%) stated that more than 81% of their overall advertising inventory is now dedicated to digital video, compared to just 16% stating the same back in 2017; a 75% increase in just one year. Advertisers are using a more sophisticated range of metricsAdvertisers are using a broader and more sophisticated range of evaluation metrics in 2018. This reflects the increased appetite for transparency and accountability in the industry. Cost per completed view (CPCv) remains the most important metric for advertisers (rising from 52% using it in 2017 to 70% in 2018) which reflects its increased use as a key transactional metric to secure as many eyeballs as possible for the lowest cost. The biggest year on year increase relates to brand safe/non-fraudulent impressions. This can be interpreted as being a direct response to recent high profile incidents that have affected industry trust levels in digital advertising. The most significant decline (from 48% of advertisers in 2017 to 30% in 2018) is observed in the use of click-through-rates (CTRs) as an evaluation metric. Issues relating to CTRs are well documented so moving beyond them for branding campaigns, towards meaningful measures more relevant for todays challenges, is a welcome sign. However sellers; both Publishers and Ad Tech Vendors deem this an important metric. Objectives and Measurement10
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