AOL’s new State of the Industry Video Report claims that 68% of Brits say they never watch VR, compared to 58% globally.
Yet despite this, 55% of the polled buyers and sellers in the UK said they believe immersive formats like 360-video will provide “one of the best revenue streams over the next twelve months” – compared to 50% globally.
Some 62% of advertisers in the UK said they believe there is room for VR in the digital video marketplace, compared to 64% globally.
“When it comes to new formats, consumer appetite is still in its infancy. Advertisers and publishers have an opportunity to flex their creative muscle and tailor content to serve their audiences’ needs and interests,” said Stuart Flint, managing director at AOL UK.
“The future is firmly in digital video, and advertisers and publishers must be prepared to invest in emerging formats to enhance the consumer experience.”
Among the study’s other findings was that video has now become a “fundamental part of daily online behaviour in the UK”, with 71% of consumers watching digital video on any device every day.
In the UK, 54% of consumers claimed they watch more digital videos today compared to just one year ago – versus 66% globally.
Some 64% of Brits said they watch videos that are under one minute long. On a global scale an average of 60% of consumers share similar viewing habits.
The AOL study was conducted by research agency InsightsNow and surveyed 1,600 buyers and sellers, and 1,300 consumers from across seven markets, including the UK, in a bid to uncover the role of digital video in advertising and media consumption today.
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23rd October 2019