VideoEgg Gears Up For Extended Writers’ Strike
The writers’ strike has created a vacuum for media buyers and VideoEgg is helping to fill the need. The company is providing targeted, engagement-driven online video ads to help brands navigate in transitioning to online advertising.
60% of consumers are online 1-4 hours a day, compared to 66% of consumers that watch television for the same length of time which makes the internet the main competitor for entertainment content. This has put stress on advertisers attempting to figure out the ad spending equation. Despite the change in viewing habits, according to the release advertisers still spend 5.7 times as much on television ads. IDC predicts that online advertising will increase to $31.4 billion in 2011.
Troy Young, CMO for VideoEgg stated “Right now the industry has created what we call an online ad spending gap, where consumer attention outweighs advertising dollars online. With the current writers strike in full force the time is ripe for organizations to build new marketing muscle, and the winners will be the ones who jump in with two feet. We understand that scaling an online marketing competency is hard and are focused on making it easy for marketers to move TV money online.”
IDC analyst Karsten Weide said “When budgeting time comes around, U.S. advertisers have to decide where to invest their marketing dollars to get the most ROI. It(Internet advertising) can do anything that print-, audio-, or video-based media can do, yet it also allows for better targeting, is more accountable, and offers interactivity with consumers, allowing ads to lead directly to online purchases.”
Jack Myers of Jack Myers Media Business said “If the strike continues past mid-January, which it will if no progress is made in the next three weeks, marketers will be confronted by a clear challenge. In the face of inevitable broadcast network erosion and an inability to acquire compensating make-up inventory from the networks, will they search for more efficient alternatives?”
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