B&T: Video ad budgets soar as CPMs rise
12 September, 2013 by Alex Hayes
Video ad budgets have rocketed by a third on the last year, while publishers are experiencing CPMs 16% higher than last year, according to new research from IAB Australia and Adap.tv.
According to the annual State of the Video Industry report the increased budget allocation is coming from a range of sources, not just TV, with a total of $112m spent in financial year 2013, up 43.5% from the year before.
Other takeouts from the study show 58% of buyers plan digital video spend alongside TV, but buying tends to fall into digital groups still, while more than half of the market believes inventory is scarce.
Phil Duffield, Adap.tv's MD for Asia Pacific, said: "Brands are demanding a cross-screen campaign approach yet, in many cases, agencies are still in planning silos.