IABNZ Standards & Guidelines Council discusses opportunities & challenges in Video Advertising
Wed, 09 Dec 2015
Last year saw the formation of the IABNZ Standards & Guidelines Council, drawing members from organisations representing a range of offerings and products in the digital advertising industry. The members include publishers, networks and agencies to ensure that all key issues and challenges faced by the industry are addressed. In this post, we focus on video.
We asked our council members, which include VeNa, Mediaworks, Yahoo NZ and TVNZ to share their thoughts on why they wanted to be a part of the IAB Standards & Guidelines Council, what they see as the biggest opportunity in video advertising in the next twelve months, and what the biggest challenges to the video ad market in New Zealand might be over the next 12 months.
Toni Knowles| VeNA |What is the biggest challenge to the video ad market in New Zealand in the next 12 months?
Being immersed in the video ecosystem, there are many challenges I see on a daily basis. It is difficult to pinpoint just one – here are two key challenges, the first I believe can be solved in the next 12 months, the second is more of an ongoing challenge of our tech driven industry (and not just limited to video!)
1. For the New Zealand market specifically, the biggest challenge is the lack of quality local publisher mobile video inventory. The advertiser demand is there, the consumers are there. NZ publishers need to prioritise mobile video inventory now.
2. The second (ongoing) challenge I wish to highlight, is the market expectation of video ad tech Vs the reality right now - Here are a couple of current examples:
- Viewability measurement and trading on viewable impressions – everyone agrees it is a good idea, however at the moment, it’s not quite where it needs to get to, in the sense that a significant proportion of video impressions are not able to be measured at all. Secondly, it’s worth pointing out that there are video advertising formats that negate the need for this - e.g. user opt in formats sold on an engagement basis, and in app video ads that take over the native video player of the device – no problems with viewability there!
- Another example concerns rich interactive mobile video creative formats, and the lack of MRAID compliant video publishers (MRAID, or “Mobile Rich-media Ad Interface Definitions” is an IAB project to define a common API for mobile rich media ads, including video, that will run and behave the same in all mobile apps) – the technology is here, and we’re already running these types of video creative that present exciting possibilities for advertisers, however right now there is a very limited pool of MRAID compliant video inventory globally. For publishers and app developers, it can take significant time to roll out in apps – if they can do so, there is a massive opportunity. Publishers and app developers should put MRAID on their roadmap now.
Toni Knowles| VeNA | What do you see as the biggest opportunity in video advertising over the next 12 months?
More and more advertisers are recognising that video is an important part of their communications strategies – everyone will join the party!
The biggest opportunity over the next 12 months is the increase in attention and spending in this category as a whole, across all screens and environments.
Video advertising can provide scalable reach and engagement, and the power of sight, sound and motion grabs attention, entertains and informs consumers. Multi-tasking/interactive video formats can turn an existing video asset (e.g. a TVC) into a much more engaging and direct response experience for the consumer.
Video is also one of the most shareable forms of content. Advertisers and content creators have the opportunity to plan and create video with share abilityin mind, to benefit from earned media and amplification across social channels.
I believe video presents a huge and exciting opportunity for NZ advertisers, creative agencies, media agencies and publishers alike.
Toni Knowles| VeNA | Why did you want to be part of the Standards & Guidelines Council?
Not a new thing in marketing and advertising, however change is occurring ahead of learning at an ever increasing pace. I find this is both exciting and daunting.
I believe that in this environment, standards and guidelines are just so crucial – we may not have all the answers, however we don’t need to make things harder than they should be either – Standards and guidelines can help demystify some of the complexities that tend to hold back adoption and progress of the new interactive advertising possibilities we are seeing and experiencing.
For me personally, I am thrilled to be part of such a passionate group of industry professionals, and hope I can add value. It forces me to drill down on the details rather than simply following the hype!
Brendan Smith | TVNZ |What is the biggest challenge to the video ad market in New Zealand in the next 12 months?
With the push towards programmatic video the largest issue publisher’s face is the control of the end user experience. Controlling frequency, video quality, audio level and making sure the appropriate ad is shown to the right end-user etc. in the programmatic space is completely different when hosting is shifted to the advertiser side. The tools on both the buy and sell side are in their infancy and this introduces a range of limitations, especially when working with campaigns which require a guaranteed number of impressions to run within a specific timeframe.
Brendan Smith| TVNZ | What do you see as the biggest opportunity in video advertising over the next 12 months?
As the tools become available programmatic video is going to open up opportunities for both publishers and agencies to buy and sell inventory in new ways – both at the premium and remnant end of the scale. This should make it easier to trade in video and increase the overall market size.
Brendan Smith| TVNZ | Why did you want to be part of the Standards & Guidelines Council?
I knew other industry players have the same struggles as us, so if we can work together to align publishers and make things easier for agencies then it benefits the industry as a whole.
Peter Henning| Mediaworks| What is the biggest challenge to the video ad market in New Zealand in the next 12 months?
Market threats from non-advertising, subscription based online-video services.
Peter Henning| Mediaworks| What do you see as the biggest opportunity in video advertising over the next 12 months?
Standardized creative of premium & engaging ad units like that deliver interactivity – while being playable across a wide range of publishers.
Peter Henning| Mediaworks| Why did you want to be part of the Standards & Guidelines Council?
To have more of a global view of the online advertising industry.