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article imageWith ad budgets growing, new video advertising association formed

By Michael Krebs     Feb 18, 2014 in Business
With Social Media Week in full swing, the formation of a new advertising organization was announced — with the intention of bringing more marketing dollars to digital video outlets on YouTube.
Digital video opportunities continue to abound across the Internet, and the volume and cadence of online video experiences —and their respective marketing budgets — has led to the formation of a new organization, according to an Adweek report.
The Global Online Video Association, GOVA, is composed of nine "multichannel networks" (MCNs) — all of whom are operating on YouTube. The nine MCNs have been identified as Maker Studios, Fullscreen, Collective Digital Studio, Big Frame, BroadbandTV, DECA, Discovery’s Revision3, Magnet Media and MiTu Networks.
The announcement of the new non-profit advertising association came on the opening day of Social Media Week, a global conference spanning eight cities.
Paul Kontonis, a long-time advocate for online video advertising who is most widely known for his role in establishing an online video up-front market to compete with television buying and planning behaviors, has been charged with piloting the Global Online Video Association.
“All these companies were formerly defined by just having a bunch of channels on YouTube, and it was about aggregating views and prerolls,” Kontonis told Adweek. “Now, they’ve all become major digital media companies. They all have interest in bringing dollars and attention to the space. And they need a group like GOVA to protect their interests.”
Kontonis promised to extend GOVA's influence and interest across platforms beyond YouTube, including Hulu, Amazon, and XBox, according to MusicAlly.
More about YouTube, online video marketing, You tube, Digital video, social media marketing
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