and Digiday expect video budgets to grow 27 percent year-over-year

Digital video spending surged in 2012 and will continue to grow in 2013, bolstered in no small part by advances in ad technology, a report published Nov. 20 by and Digiday said.

The change is evident in the fact that 58 percent of agencies are now planning TV and video campaigns together compared to 48 percent who shared that thinking just six months ago, the report said.

According to the report, 97 percent of surveyed video buyers from agencies, brands and trading desks said their video ad budgets grew 27 percent year-over-year between 2011 and 2012, and most expect a 20 percent increase in 2013.

Even more telling, 22 percent of those buyers, or nearly double last year's number, say digital video budgets are now line items.

The money for this shift has to come from somewhere, so it's not surprising that 27 percent of the video buyers said TV spending cuts helped fuel increases in online video spending in 2012. Thirty percent said print cuts were a source of income, while cable budgets were tapped only 13 percent and 37 percent said they tapped display ads to fund video.

The survey, conducted in the fourth quarter 2012 among 700 respondents who are Digiday subscribers, conference attendees and speakers, included 43 percent from agencies, 25 percent from publishers, 19 percent from ad networks and DSPs and 13 percent from brands.

For more:
- MarketingProfs has this story

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