Mumbai: Global market leader in video advertising workflow and delivery - Peach, has launched an exclusive report on video asset management in the Indian market.
The report, commissioned in collaboration with marketing data and analytics firm Kantar, is the market's only report on video asset management. The findings highlight critical challenges that leading brands, agencies, and advertisers face when executing advertising campaigns. These challenges include releasing advertisements on time, in the correct formats, and through planned channels, all while adhering to content, brand safety measures, and accommodating ongoing performance measurement while developing a video advertising campaign. The challenges were compiled based on qualitative in-depth interviews with brand and agency personnel in Delhi, Mumbai, and Bangalore.
The report broadly shares the holistic solutions for various types of challenges like- complex workflow, stakeholder collaboration, asset management, performance measurement, and consolidated reporting.
The industry needs to note these challenges and openly discuss how to create more efficiency and effectiveness in the advertising workflow. India's ad spending growth rate is predicted to grow by a compounded annual growth rate (CAGR) of 15 per cent to Rs 1,13,575 crores in 2024 - making it the fastest-growing market globally. While approximately 40 per cent of ad spend in India is via television, and 35 per cent focus on digital, the latter percentage will only rise, so brands, agencies, and advertisers must be on the front foot to address these challenges and create solutions.
Peach’s initiative aims to motivate the industry to address the issues and bring about a more collaborative approach in the advertising workflow to create efficiency, effectiveness which helps deliver exemplary results.
Peach VP APAC Andy Gilroy said, “We are excited, with our partners Aidem, to share this research with the Indian market. It is groundbreaking in identifying how much time can be wasted on manual tasks in the current ad workflow and highlighting the opportunities to implement digital workflow solutions, freeing up time for creativity and ensuring value for money.”
Gilroy added, “We are calling for the industry to stand up and acknowledge these challenges and to talk openly about how we can collaborate to make the creative video ad workflow more streamlined. Multiple stakeholders are involved in the ad workflow process, so there is a huge opportunity to drive campaign deliverables without wasting time on manual tasks. Let’s use the technology that is available at our fingertips.”
