Banking and automotive brand categories were the biggest spenders on online video ads in February according to digital ad format data released by Standard Media Index (SMI).
The data, which will be published each month, also showed display and production digital ad formats received the biggest share of digital ad spend for February. Further down the list, search, video, native and audio follow respectively.
The monthly view of digital ad format data gives New Zealand advertisers the monthly ad spend for online video, display, native, audio and search – allowing for insights into the product categories spending the most on each one.
Large advertisers will also be able to compare their monthly video ad spend to that of their immediate competitors.
Its release follows an 18-month collaboration with SMI’s New Zealand media agency partners to firstly agree on the definitions for each ad format and then to upgrade the payment system so the detail can be specified by the media agency when digital advertising is paid.
Other ad formats for which data will now be published each month include search and audio with the former mostly representing advertising expenditure on podcasts. And as the data comes directly from the media agencies’ payment system, it represents actual spend rather than the ad spend estimates of the past.
SMI AU/NZ managing director Jane Ractliffe says the data provides a new level of visibility for digital media, enabling media companies to track the evolution of key markets such as online video advertising for the first time, while also providing a valuable benchmark for advertisers.
“Advertisers will for the first time be able to know if they are under or overspending on key media such as online video advertising relative to their immediate competitors,” she says.
“At the same time, SMI’s agency partners have the detail they need to better inform their digital media plans by gaining the first insight into video, audio and native advertising expenditure across all digital sectors.’’
As part of this project, New Zealand’s media agencies have also agreed to specify the outdoor ad formats of digital and static when paying for outdoor advertising inventory, and SMI hopes to release that detail within two months.