2016 was a banner year for video advertising. Not only did US advertisers invest close to $10 billion in video ads in 2016, global digital spending on the format is expected to increase by more than 30% in 2017. But what video advertising trends will advertisers be focusing on in the year to come? Lots of industry insiders are already making their predictions. Here are the four trends we expect will dominate advertising activity and spending in 2017:
More video spending will shift to social and mobile channels
Trends in consumer attention tell us that consumers’ time spent is moving to mobile and social media. Now brands’ ad dollars will “follow the eyeballs.” For social, the success of video advertising on Facebook, plus new social video products from Twitter and Pinterest, will offer agencies lots of options. The same is true for mobile, where growing mobile video inventory and more standardization will lead to more video-focused mobile campaigns.
Live video will get more important
Live events have long been the exclusive province of TV advertising. But thanks to the success of new “live” video streaming tools from Facebook, Instagram and news sites, there is more live video than ever before, and consumers are spending more time with it as well. Some sources say people spend 3x longer watching live video. Expect to see publishers, and the major tech platforms, look to monetize the success of these democratic broadcasting tools in 2017.
15- and 30-second creative will “win” the video format war
Over the past several years, the range of ad creative formats available to advertisers has exploded, encompassing everything from 6-second Vine videos to constantly changing “native” formats offered by publishers. But with the closure of Vine last year, data like this stat from Facebook suggesting consumers’ video completion rates are highest in the 30-60 second range, and a growing convergence of TV and video, signs are good that video ad formats may start to coalesce around the tried-and-true 30- and 15-second formats.
Marketers will double down on transparency and accountability
2016 was a tough year for video advertisers. Coming off allegations that some publishers were using artificially-inflated performance data, plus continued concerns about non-human traffic and viewability, expect advertisers to demand more transparent and consistent video measurement options in 2017.
Unfortunately, there’s no “crystal ball” for the video advertising industry. But given the trends that have taken hold in 2016 and the moves already being made in 2017, it’s shaping up to be an interesting year ahead. Keep your eyes peeled for these four trends as your clients finalize their budgets and plans for the year to come.