Online video advertising experienced substantial growth last year, seeing revenues more than triple, according to Web TV Enterprise.
The UK’s largest premium video ad network has reported revenue growth of 244% for 2010 against 2009. The company has also announced record year-on-year growth in Q4 2010, with sales up 162% compared to the same period in 2009.
During 2010, Web TV Enterprise ran more than 400 campaigns on its network of premium video channels for 154 different advertisers. Of these, 118 ran online video campaigns for the first time.
Entertainment, telecoms and FMCG companies spent the most on VOD advertising in 2010, Web TV Enterprise found.
“2010 was a landmark year, not just for us but for the whole industry,” said Jamie Estrin, founder and Managing Director of Web TV Enterprise. “The campaigns running on our network now cover the full spectrum of TV advertising categories, from automotive to leisure, proving that online video is now a major media channel in the UK.”
In March, Web TV Enterprise is due to publish its fourth bi-annual report which reflects the views of the UK’s online video media buyers. Its third report, published in September last year found that growth in online video advertising spend was being driven by delivering incremental reach to advertisers’ TV campaigns.
“For the first half of 2010 alone, online video advertising spend grew rapidly to hit £21million in the UK (IAB / PwC AdSpend Study H1 2010),” said Jack Wallington, Head of Industry Programmes at the IAB.
“Within the IAB Video Council – a committee of the UK’s leading senior online video experts – there are unparalleled levels of excitement as companies across the industry are reporting explosive investment in online video as advertisers are now seeing online’s incredible brand building abilities first hand.”