Inspired by the broadcast and cable television “upfronts,” the Digital Content NewFronts introduce media buyers to new opportunities in digital advertising. Between April 28th and May 7th, 23 official presentations took place during the third annual NewFronts.
The amount of money spent by marketers and media buyers in digital video is growing by double-digit percentages each year, but is still a lot less volume than televisions advertising sales. For example, the digital video advertising take for last year, according to the I.A.B. and Price-waterhouseCoopers, was $2.8 billion – but the broadcast and cable ad take was $74.5 billion.
Lots of opportunities with digital video. Although there’s a lower volume being spent, the opportunities for “prime time” advertising are infinite with digital video. There’s no limit to the amount of advertising that can be sold, and there’s no cut off date in order to meet season schedules. For this reason, NewFronts is mostly about marketing – and not about sales.
For example, the website BuzzFeed took part in the event for the first time – but used its two-hour presentation to discuss the philosophy that has driven its popular site and video clips, rather than to encourage media buyers to space. Their success in branded content for marketers at Johnson & Johnson has served as a template for other advertisers.
Most of the companies at the NewFronts were digital natives, like BuzzFeed. Presentations were given by AOL, Google, Microsoft, Vevo and Yahoo!. However, even legacy-media companies like the New York Times, Conde Nast and Time Warner Cable media have taken part. During this year’s NewFronts, the New York Times took a promotional approach and introduced several new video series to court advertisers. The Times plans to partner with video-sharing website Vimeo for greater exposure.
With new brand channels from several publishers, and unlimited opportunities for “prime time” advertising – NewFronts may be a must-attend event in the coming years for media buyers.