STRATA Agency Survey: Video Advertising, Led By Cable, Is Main Focus For Ad Campaigns In 3Q13
-- Survey Also Shows Mobile Becoming Major Component for Agencies --
CHICAGO, Nov. 7, 2013 /PRNewswire/ -- A recent survey of advertising agencies found that video advertising is the main area of focus for agencies in the second half of the year. The survey, conducted by STRATA, the leader in media buying and selling software, found that more than half (57%) of agencies polled say their main emphasis is on video (TV, cable, network, online video). Cable remains a big focus within the video category as 54% of agencies polled said they were most interested in that medium than they were in 2012. This marks a 35% rise in interest for cable from last year. Comparatively, STRATA's survey found this quarter the lowest rate seen in the past in twenty quarters of those who were less interested in cable than a year ago (20%).
Streaming video saw an increase in attention from advertisers as 55% of agencies said that they were more interested it than they were a year ago. YouTube is leading that category with 67% stating that the Google product is their top choice for video campaigns. Hulu was the second most popular option at 27%. Despite the category's growth, challenges remain for streaming video with over half of the agencies saying they are unsure if they are getting solid value out of their online video spend.
"Video continues to be a major focus for advertisers with cable as a key component of ad campaigns heading into this year's holiday season," said John Shelton, STRATA President/CEO. "We are also seeing mobile advertising being utilized and competing for advertising dollars against some other previously established digital contenders."
A vast majority (88%) of agencies said they are more interested in digital than they were a year ago. Presently, the top two digital options for advertisers remain online display (72%) and search (69%), but mobile is quickly proving as a solid challenger (51%). Apple's iPhone is the top device for advertisers (91%) followed by Android (73%). Tablet computers are a big target for agencies with 65% of media buyers saying their clients would like to have advertising on the iPad (up 24% over last year) and other tablet computers 41% (an increase of 114% in the last year).
Social media advertising continues to be on the minds of agencies, with Facebook remaining the leading platform for advertisers as 89% of agencies picked the site as their top social media advertising option. YouTube (63%) came in second and Twitter (54%) in third. Paying for social media advertising still remains a stretch for agencies as just over two-thirds of the agencies polled said that they will allocate 5% or less of their budgets for paid social advertising.
Agencies also expressed optimism as they enter the fourth quarter with over half seeing their business increasing compared to last year. However, for a ninth quarter in a row attracting clients remains a leading concern.
Other key findings:
- 22% of agencies plan to still hire more staff this year
- 47% say they are more interested in streaming audio than they were a year ago
- Radio witnessed a decrease with 36% of agencies less interested in it than last year
- Pinterest marked its sixth consecutive quarter of increased interest with 28% of agencies responding that they would use that social media site for future campaigns
STRATA is the only system provider that connects both media buyers and sellers. The custom solutions supplied by STRATA empower clients to sell and efficiently purchase all media types including cable, broadcast, newspaper, radio, outdoor and digital advertising mediums. On average, over $50 Billion in advertising dollars flow through STRATA systems per year.
As the system of choice for over 1,000 agencies nationally, STRATA provides media technology that enables organizations to lead rather than react to industry developments. By transforming the way advertisements are placed and tracked, STRATA adds a new level of transparency to campaigns that is necessary in the ever-evolving media world.
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