Advertising remains happy to spend millions on being the second medium – brands are still happy to share the attention of the consumer, and pay for the privilege. All while the consumer is engrossed in the content or task they have chosen to engage with.
If you look at all the content mediums available to advertisers, video can be found on almost all of them: digital written content, search, outdoor, digital audio.
The cynic in me might suggest that media owners are keen on video because it achieves a higher yield, or that creative agencies get paid more to produce a video advert than any other medium. It could even be that having spent a fortune on the video advert, the advertiser decides it’s better value to use the existing video than have other assets made.
That being said, the founder of Unruly, Sarah Wood, interviewed here on Secret Leaders Podcast is adamant that advertising should match the medium, whether VR, TV or AR. Even with her vested interest in selling video ads on news sites.
So perhaps I am just a cynic.
The industry focus is elsewhere.
As a whole, the industry has chosen to focus on audience targeting – a decision that has led to advertising deposing bankers as public enemy number one. No mean feat!
The point of this article, though, is not to debate whether brands have got the split of budget between media buying and creative wrong. Or whether creative agencies recommend video over others, because they can charge more.
For better or for worse, the big tech companies, large VC investment and marketing budgets seem to have convinced the industry that data matters more than creative. It’s true, data is important.
The point is – if someone is on a mission, any change of medium is just a distraction – and is going to have little impact on them, if any.