Last week Greg Jarboe wrote an article for SEJ covering insights from the 2024 IAB Digital Video Ad Spend & Strategy Report which was the second part of a two-part report.
The first part reported that overall spending on digital video advertising in the U.S. is projected to grow 16% and that in the last four years, the share of ad spend has shifted to 52% of the total market share in the U.S.
US Digital video ad revenues are expected to reach $63 billion in 2024.
From the second part of the report, what stood out was the shift in measurement metrics for video from reach to business outcomes. According to Cintia Gabilan, IAB’s VP of the Media Center:
“But now business outcomes are the most important metrics to assess success, with reach and frequency coming in second. However, measurement is not yet where it needs to be. Two-thirds of buyers cite issues across nine key areas of measurement.”
Alphabet (Google) has also just announced their quarterly earnings – and out of this was the insight that Brand advertising – rather than direct response is driving YouTube revenue.
To discuss this and to throw insight into why this is important and why he was “shocked” about these changes, I reached out to Greg to get his thoughts.
Greg started out as a director of corporate communications in the 90s when websites were called “new media.”
And, he has worked with video marketing since the mid-2000s. He has followed the development and uptake of video in online marketing and SEO for the last 15 years.