Emerging Trends in the Video Adtech Industry: 5G, Omnichannel to Drive Growth
Digital ad spending is set to rise across the globe. In 2019, worldwide digital ad spending will rise by 17.6 per cent to US$333.25 billion, according to eMarkerter. The same report suggests that digital users will account for roughly half of the global ad market. And, there are many factors contributing to the growth of digital ad industry.Joshua Oshu Kwon, chief strategy officer of a South Korea-based lock screen media platform provider, Buzzvil, pointed out four emerging trends in the video adtech industry as follows:
5G to Accelerate the Growth of Video Advertisements: It is true that 5G will enable the adtech ecosystem to load faster the things people search for on the internet. Citing reports, Kwon said, “By this year (2019), 0.4 million users will have access to 5G, and by 2024, the number is expected to surge to 1.4 million."
In order to be adept with the changes, Kwon suggests, “It is important for advertisers to get a better understanding on how to manage the video ads' campaign in a smarter way, and publishers must come up with a strategy to own more video inventories.”
Omnichannel to enable the Growth of Video Ads: According to Kwon, citing his experience at Buzzvil, when a TV commercial company wants a display ads on its lock screen platform, the same product is being sold on TV. “This is when they make the most sales,” Kwon said.According to Mary Meeker's 2019 Internet Trends report, 88 per cent of people are on a secondary device while watching TV, searching for what they want to see and talking about it. Kwon suggests, “Marketeers have to be present on phones, computers, TV, tablets and other IoTs. They have to integrate all their data to take necessary actions.”
Users will Start to Actively Manage how and where their Data is being Used: Citing data regulations such as the GDPR, and similar data privacy regulations being adopted across Europe, Asia, Americas, and other countries, Kwon emphasised that "industries will have to ensure that the customer data is secure and is managed with full transparency."
Kwon said, “More and more users will be sensitive as to how and where their data is being used in the adtech industry, an then start to actively manage it. This trend will mostly be driven by user-borne needs managing their data. Publishers and advertisers can look a closer look at the trend to adapt to the new reality."
Industries should Aim for better Ad Experience: Kwon maintains that doing so will enable industries to remove unwanted ads. He said, “Pure ads with better UX (user experience) will not only perform better, but they will be the only option available for publishers in the future as ad technology develops. Users will welcome this change and continue to fight unwanted ads.”