As the online video business continues to grow, video vendors are racing to introduce new products, eager for a piece of the $3.1 billion ad spending pie. Companies from online media company Local Corporation, to ad serving platform Undertone, to ad network YuMe, to ad technology firm Adap.tv have all introduced new features in recent weeks and months. For more details on what this gold rush means, check out this week's edition of the New Media Minute.
As the online video business continues to take off, vendors are racing to see who is going to come out ahead and everyone wants a piece of the action. Online video ad spending is expected to jump 40% this year to $3.1 Billion, according to eMarketer.
So we've seen companies such as the Local Online Network--local companies start offering more video tools. But add to that ongoing efforts from core video vendors, too, to up the ante in terms of new features.
Just last week YuMe added a new component to its online ad network to measure and adjust the placement of a video ad in real time throughout the life of a campaign--a tool YuMe says can boost engagement with the ad significantly.
Then there's Adobe, which just introduced services to help program and support video across multiple streams, with dynamic ad insertion built in to optimize ads and videos.
And to top it off, the video ad technology company AdapTV rolled out a media buying platform called The AdapTV Upfront Marketplace, designed to reduce time and improve efficiency of media buying across streams.
The upshot of all this: there is a gold rush going on in online video, and the technology providers are all scrambling to mine the most gold.