In 2018 alone, it is believed that advertisers will spend around £23 billion on online video.
The majority of this will be spent by social media platforms even though video placements carry an everyday risk in relation to the safety of a brand. It is believed that 10% of placements come with a negative adjacency risk. This follows the news that Mars had to remove £5m worth of spending from YouTube, following their ad being placed on a music video that was linked to criminal activity.
However, marketers do not seem to be bothered by these concerns linked with social media platforms as they feel as though the responsibility falls on them. Social media platforms have been told to clean up their acts as advertisers have forced a significant change in this area. If the context is not correct then reach and targeting carries very little effectiveness.
Online Advertising industry is Making Moves in the Right Direction
However, one report has identified that 40% of brands are now delivering ads on sites that are considered to be unsafe due to the fact they do not have third-party brand safety solutions in place.
Despite this, the online advertising industry is making moves in the right direction, because it has been identified that advertisers are now going to improve their safety-related efforts over the next year. This will involve initiatives such as combating fraud through domain spoofing and through allowing advertisers to only purchase inventory from certified publishers.
Regardless of whether they are brand safe or not, they are still expected to spend almost £23 billion on video advertising. This is a figure that is expected to grow and by 2020, it is believed the video consumption will reach 84 minutes per day.
Facebook is already taking advantage of this opportunity as it has just revealed a toolset that enables advertisers to create simple videos in just a matter of minutes.
