STANDARD Media Index and its NZ media Agency partners have today launched the first monthly view of Online Video, Display and Native ad spend for the NZ advertising market, providing valuable new insights into this significant media.
SMI’s subscribers will now have the first monthly access to ad spending on Online Video advertising, for example, with that total able to be shown across each Digital sector (such as Programmatic, Social and Content Sites) and all 96 Product Categories.
The release of the Digital Ad Format data follows an 18-month collaboration with SMI’s NZ’s media Agency partners to firstly agree the definitions for each ad format and then to upgrade the payment system so this detail can be specified by the media Agencies 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 old-fashioned ad spend estimates of the past.
SMI AU/NZ Managing Director Jane Ractliffe said 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. We can now see in the month of February, for example, that the categories spending the most on Video advertising were the Banks, followed by Automotive Brand advertisers and then Retail advertisers,’’ she said.
“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.’’
The new data shows that in NZ the highest proportion of video advertising dollars are traded through the Programmatic market, followed by the Video Sites market and then more general News/Content websites.
“February is the first month that we have been able to release the Digital Ad Format detail but it will become part of our core package as we continue to track the evolution of the Digital media using media Agency payment data,’’ Ractliffe said.
NZ is the third country in which SMI has successfully worked with its media Agency partners to deliver reliable Digital Ad Format ad spend data, with the Australian and US markets also featuring the same detail.
As part of this project, NZ’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.
“SMI exists to fill the market’s ad spend data gaps so our subscribers and Agency partners have the best possible detail to make informed decisions on media allocation based on reliable data rather than intuition,’’ Ractliffe said.
Examples of the new Digital Ad Format detail are provided below.
Download the full press release in PDF format.