A new study finds that 68% of marketers and media buyers expect to increase their ad budgets for digital video over the next 12 months.
The study, from the Interactive Advertising Bureau, says the new gains come on top of big jumps in spending over the past two years.
The IAB helps put on the Digital Content NewFronts, which start this week. The NewFronts are designed to highlight original digital video just before the upfronts, when marketers commit the bulk of their ad dollars to traditional broadcast and cable networks for the upcoming season.
In the study most respondents said they expected the increase in digital video spending to come from rising ad budgets in a shift in funds away from broadcast and cable TV, with 67% saying they expect their broadcast and cable ad budgets to stay the same or decrease next year.
A similar sized chunk of marketers and agency executives also said they believe that original digital video will become as important as original TV programming within the next 3 to 5 years.