The Government's newly released National Innovation and Science Agenda shows that for economic growth to continue within Australia, an 'innovation ecosystem' must be fostered, where new businesses with new ideas are encouraged to grow and flourish. With every company wanting to increase, retain or improve their customers’ experiences, this makes marketing vital to fuelling Australia's ideas boom.
The Interactive Advertising Bureau (IAB) has launched a video advertising council to provide guidance and support around video advertising trading practices.
The council features representatives from across the digital advertising sector including publishers, networks and agencies. Launch members include Adaptv, Foxtel, Google, MCM, MCN, VENA, SpotXchange, SBS, TEN, TubeMogul, TVN Videology, and Yahoo!7.
IAB said further members will join in coming months.
Among the council’s initial priorities are providing case studies and research showcasing the ROI of video advertising, as well as revising technical specifications, standards and guidelines. The council will also look at audience and campaign measurement metrics across screens for video content, as well as viewable impressions for video ad units.
Video advertising fraud is another area in the spotlight and the new council will work with the IAB Brand Safety Council to formally launch a program addressing the issue shortly.
“The potential growth of the digital video market in Australia is indisputable and the video advertising council will be actively focusing on making video ad trading easier and more effective,” IAB CEO, Alice Manners, said.
The video advertising council is the latest in a series of initiatives being launched by the IAB to better address the needs of the wider digital advertising community. Other plans have included the launch of an agency advertising board in March, and two additional digital marketing certification programs: Digital Media Sales, and Digital Ad Operations.
According to a recent IAB US study, 65 per cent of advertisers anticipate they will spend more on digital video advertising this year than in 2013. Among the drivers for uptake are cross-screen campaigning, the increase in mobile video inventory, and development of more sophisticated programmatic options.