The UK advertising and media industry believes the consumer is evolving, according to new findings by Forrester Consulting in a study commissioned by Videology.
The study shows that UK media remains bullish about the future of video, with two out every three respondents convinced there will be a sharp rise in video consumption via various sources – such as original online professional programming and full-length TV programming.
53% say TV viewing at time of broadcast will decrease or stay the same, while over 70% of advertisers and agencies believe second screen interactions will open up additional opportunities for ad engagement.
The study also revealed 67 percent of agency respondents believe they will merge their TV and online buying teams over the next three years, with 60 percent of advertisers believing advertising effectiveness and targeting will improve over the same period.
Overall, Videology attest that optimism about the video future prevails: over 60% of all respondents believe publishers will increase their overall advertising revenue by selling video ads and will earn higher CPMs over the next three years, while 59% say advertiser effectiveness will improve because of video during the same timeframe.
Commenting on the UK findings, Rhys McLachlan, TV Practice Head, Videology, comments: “Anyone who holds a stake in the fire will acknowledge the advertising landscape is evolving as a result of changing consumer habits across all channels. As this research shows, all stakeholders have something to gain from this seismic shift. Now it’s up to the industry to work together to develop the technologies and solutions needed for the entire ecosystem to succeed.”