The second annual Video State of the Industry Survey from Adap.tv and Digiday has found that brand advertisers who bought online video ads this year are planning to increase their budgets for 2012 by 47 percent.
For brands that didn’t purchase any video ads in 2011, 84 percent say they will include digital video in their campaigns in the last quarter of 2011 or in early 2012. These figures correlate closely with the experience of Wooshii.com, a network of thousands of the world’s top video makers and animators.
In the last six months, the average spend on video projects on Wooshii has risen by more than 60 percent.
“Budgets have been increasing quite dramatically this year and they are likely to continue growing in 2012,” says Wooshii CEO, Fergus Dyer-Smith. “Businesses are now looking to spend serious amounts of money on online video. Everyone is buying into the fact that online video advertising is a very cost-effective way of spreading a brand message.”
The survey found that brands are diverting funds away from print advertising and broadcast TV advertising in order to focus on online video.