This year's VideoNuze Online Video Ad Summit in NYC touched on a host of issues affecting the monetization of video and how content providers are adapting to new user trends.
With video advertising dollars heading towards mobile, the traditional desktop ad market is rapidly changing. Currently the video ad spend for desktops is $5bn a year, while $2.6bn in ad spend is going towards mobile, however as audiences shift more of their attention span to mobile-only devices, video advertising is evolving to multiple screen environments.
Guest speakers at this year's Summit included Stephano Kim, SVP, Ad Operations & Chief Data Strategist at Turner Broadcasting, Chief Revenue Officer Lisa Valentino from Condé Nast Entertainment, and David Morris, Chief Revenue Officer of CBS Interactive.
We caught up with Koby Ram, Founder of Vexigo, and Visualizr, a mobile optimization platform to find out how changes in video advertising and content consumption are going to affect companies in the future.
Where will people be consuming video content in the next 5 years and how do you think it will impact advertisers?
Koby: Numbers are proving to us that users are consuming more screen time all together from 5 hours daily to nearly 9 hours so TV is still out there big time while as more devices we operate the more time we spend consuming video content.
Advertisers will be looking at offering a variation of their ads to fit in the different screens from TV to VOD to OTT mobile and lastly smart watches. In terms of size format and length, the challenge will be to control and collect the data coming off so many different devices and manage the audience targeting across the devices. There is much more data today to be fully observed vs the lack of data we were used to.
With the growth of live video through apps such as Periscope and Meerkat, should advertisers be looking at monetizing in this environment?
Koby: Advertisers will be looking into reaching out to their audience wherever they are as long as new apps and platforms can share the user data while maintaining solid quality metrics to distinguish between a video ad and a video engagement.
To find out more about the VideoNuze Video Ad Summit check out their official website for more details.
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