I cover consumer-centric insights and analytics that provide executives with solutions needed to drive strategy. I am the CEO of Prosper Business Development where, for more than 20 years, we have provided market leadership and developed contemporary solutions to help Fortune 500 companies navigate change that impacts their business.
In the golden age of video, there is more content than ever before – from traditional TV to online video, and streaming platforms – and where there is content, there are advertisements.
To better understand the online video advertising ecosystem, I caught up with Jenn Chen, President and Chief Revenue Officer at video technology company,– that surveyed 1,000 consumers 18+ about what they expect and prefer from online video experiences. The main finding was that consumers are happy to watch ads in exchange for the content they want to see, but they do have some stipulations.
Once consumers reach their preferred video destination, they don’t want to jump around to multiple channels, only visiting 3.6 sites on average in each viewing session. The more publishers provide unique content and advertising experiences that keep viewers engaged, the more reason they will have to stay and watch.Across all age groups and demographics, the top two categories that consumers prefer to watch online are entertainment and news .
Based on these findings, it seems that advertisers are fulfilling that criteria, since 84% of consumers will watch an ad on their favorite website to access desired video content. And according to a recentWhile ‘taking action’ can mean something different depending on the type of ad and the advertiser’s goals, we learned a lot about purchase behaviors, and found that video ads are driving purchase decisions.
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