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Media Buyers Ready to Increase Digital Ad Spending, Shift from TV
About two-thirds of ad agency personnel and marketers who attended the recent “Digital Content NewFronts” expect to increase their broadband and cross-platform advertising commitments during the coming year.
In a report issued on Thursday, the Interactive Advertising Bureau said that 70% of NewFronts buy-side attendees expect TV dollars to shift to digital during the next 12 months. Moreover, 64% of media buyers who handle multi-platform activity anticipate that their “TV, plus digital video” buys will increase during the year ahead.
IAB, which managed the week-long pitch session this past spring, said that 78% of NewFronts attendees came away from the event “with at least one new [digital advertising] opportunity for their company or a client.”
Randall Rothenberg, IAB’s president and CEO, summarized the 2013 NewFronts as “a pivotal turning point in the minds of many media buyers, who now grasp digital video’s power and reach.”
While 70% of ad-buyers at the NewFronts expect to spend more on digital media in the coming year, overall 75% of the event’s 5,000 attendees foresee greater spending, according to the survey. That slightly higher figure represents the hopes (or wishful thinking) of content developers and digital program packagers/distributors at the NewFronts.
Of the attendees who decide ad spending and buy on both digital and traditional platforms, the IAB study found that 36% plan to spend more on digital video ads, 27% expect to spend the same amount and the remaining 36% claim it’s “too soon to say” how their coming year ad budgets will be allocated.
Among the presenters at the New York event in late April/early May were CBS Interactive, Crackle (Sony Pictures Television), Disney Interactive, Google, Hulu, Microsoft, Univision Communications, VEVO, The Weather Company and Yahoo!