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In the digital media space, there is a constant barrage of “the next big thing,” or general statements about how “the click is dead.” So at times, it is hard to figure out where to put one’s marketing efforts. From the agency side, their clients want to make an impact, generate engagement etc, but are relying on the agency to tell them how.
On the media sales side, it is important to keep up with what is being talked about, as well as what is actually being bought. One of these areas that is not only being asked about, but is also starting to see increased ad spend, is online video. In the September 2011 Advertising Age, there is even a full-scale pullout poster dedicated to the 2011 Online Video Market.
Of all the cool graphs and visuals, one that stands out is “Ad Spending,” which predicts that spending dedicated to video will more than triple in five years, topping $7 billion by 2015. While there is not a separation listed for video in the Hispanic or multicultural markets, you can be sure that it will also be increasing in those segments.
With the Hispanic market in particular, increasing the video spend may be a more seamless way for the multitude of marketers and agencies who are focused solely on traditional media (such as TV) to incorporate digital strategies without additional budget for the creation of digital assets. Converting a 30-second TV spot to a 30-second pre-roll is something that can be handled rather seamlessly, without much more needed than adding where to take the user when they click.
Video is still rather new on the scene, and while video inventory, as well as this medium’s acceptance by advertisers are both rapidly increasing, there are still plenty of challenges that abound, especially in terms of quality inventory for the multicultural markets. At the moment, the CPMs for publishers with quality inventory is consistent, and the demand for inventory is increasing, which at least for the moment, bodes well for video.
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