A record quarter has been predicted for online video advertising as companies look to build their brands, a new report by Web TV Enterprise has found.
Almost 50 per cent of the media buyers polled stated they planned to spend more money on Video On Demand (VOD) over the next six months.
The firm polled 150 companies and found that 60 per cent have invested in both TV advertising and VOD, with 56 per cent stating they have done so to reach a bigger audience.
It was also found that 42 per cent of these firms ran between five and 20 online video campaigns in the last six months, spending an average of £10,000 to £22,000 on each one.
The Online Video Advertising Market Report found that 22 per cent of the media buyers have spent £50,000 or more on video advertising in the past year, up from 12 per cent last year.
It is thought that this increase will continue as a third of the firms reported that 75 per cent or more of their media plans included VOD.
Jamie Estrin, founder and managing director of Web TV Enterprise, said these factors could lead to a record quarter of spending on online video advertising.
Firms like AOL are planning to promote their brand through online video. The internet company recently announced that it will be uploading content onto YouTube.
