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Monetization Monday: More Top CMOs Eyeing Digital Video

September 24, 2012
By Greg Franzese

Most chief marketing officers have shifted ad dollars from traditional media in favor of video within the last six months, a report from the CMO Club has found.

Of 170 surveyed CMOs (56 percent of whom work for brands that have more than $1 billion in annual revenue), 88 percent said they're under pressure to evaluate their broadcast media spend to look for new channels next year. Seventy-one percent said they're asking ad agencies for more video-based strategies. 
 
Most (64 percent) of CMOs said they've already moved their ad spend toward video from traditional media, and the same percentage plan to invest in digital video next year, almost twice last year's interest. Digital video here encompasses connected TVs, location-based videos, online video and mobile video. 
 
Fifty-six percent see online video as an important complement to their 2013 media strategy, and 51 percent say the same about mobile video. Interestingly enough, 61 percent are bullish specifically on location-based videos, such as those in airplanes, taxis and elevators. 
 
The CMO Club says three factors will drive digital video next year: improved online and mobile technology, lower production costs and pressure on CMOs who plan to reallocate their traditional media dollars.
Posted in Online Video News
Tags online video, digital advertising
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