NewFronts 2015 is under way, with a number of companies showing off their latest projects in social media in the hopes of attracting advertising dollars through a number of formats, including a push for video ads.
There are a surprising number of companies involved, including Buzzfeed, Yahoo, YouTube and Maker, all looking to push its original content while, at the same time, presenting viable formats in which advertising can be more effective than it currently is on modern television.
Surprisingly enough, The New York Times kicked off its own presentation at NewFronts, where, according to the Washington Post, it revealed a forthcoming documentary series focusing on women in the Arab Spring, as well as animated features that take a closer look at the financial industry. In addition, it also intends to dabble in virtual-reality technology.
“Times Video continues to be one of the most creative expressions of our journalism,” said Bruce Headlam, managing editor of video for the Times. “From breaking news to creating in-depth features, Times journalists are using the medium to amplify our news report and bring rich, visual storytelling to new audiences.”
Meanwhile, a study from the Interactive Advertising Bureau points out that investors are more likely to boost their digital-video budgets over the next 12 months, shifting away from traditional television – and this is following an effective 80 percent of marketers and agency execs who attended last year’s NewFronts and came away impressed enough to invest in at least one project.
Variety reports that, according to the IAB’s numbers, U.S. digital video advertising totaled a whopping $3.3 billion last year, up 17 percent from the $2.8 billion the year before. eMarketer added its own numbers, stating that the market was worth $5.8 billion overall last year, and expected to grow to $7.8 billion this year.
About 68 percent of the marketers and executives polled by the IAB believe that their digital-video ad budgets will increase over the next year. “This study demonstrates unequivocally that digital video is a fierce competitor for advertising dollars,” said Sherrill Mane, IAB’s senior vice president of research, analytics and measurement. Thus, the NewFronts are a pretty big deal for all involved, investors and companies alike.
Want further proof The survey indicates that last year’s NewFronts presentations were “directly responsible” for driving 36 percent of buy-side attendees’ spend on original digital video advertising over the past year. That’s an increase of 24 percent from the previous year’s NewFronts events.
In addition, 67 percent of marketers and agency execs believe that original digital video will become as vital as original TV programming over the next three to five years. It’s already proven to be a big draw, with House of Cards and Orange Is the New Black driving more and more people to Netflix, and so on.
Still, there are some that are taking NewFronts in stride and having fun with the format. Some have pitched their shows in a playful manner, without being super-serious on the numbers – for instance, video talent Taryn Southern, with her humorous pitch for her new project The Taryn Show. And Defy Media recently collaborated with Screen Junkies on an Honest Newfront Trailer that pokes fun at the event in general, while slyly inviting attendees to come out to a Defy media party on May 4. You can see the trailer below.
