Digital video ad spend keeps rising, with social media (i.e., Facebook) set to see most growth

Digital video ad spend among large brands has increased by 53 percent over the past two years, according to a survey released by the IAB, which is overseeing the Digital New Fronts in New York City this week. Just over 350 brand marketers and media buyers with more than $1 million in annual media spend completed the online survey last month. On average, the respondents said 59 percent of their digital/mobile ad spend goes to video, with an average of more than $20 million spent on digital and mobile video ad buys annually. Two-thirds plan to shift some TV budgets to digital video this year. Fifty-six percent said broadcast/cable TV ad spend will remain flat over the next 12 months compared to the previous year. In comparison, more than half of respondents said budgets will increase on desktop/online video, mobile video and advanced TV. The biggest beneficiary of this ongoing shift to video? Social media, broadly (which largely translates to Facebook, specifically). Social media video is the only video channel that at least half of respondents said they plan to increase over the next year.