Facebook, Inc (NASDAQ:FB) is following in the footsteps of Twitter Inc (NYSE:TWTR) by changing the way it charges for video advertisements. The social network giant announced Tuesday it will provide marketers the option of paying for ads when they’re viewed by users for at least 10 seconds.
Facebook Being More Competitive in Video Ad Realm
Prior to the announcement, Facebook had charged brands as soon as video ads were viewed. This hasn’t please advertisers because they want to ensure that users actually watch their videos instead of watching a couple of seconds or avoiding them entirely in their Facebook News Feed.
Facebook will keep the current model, but will also allow brands to select the 10-second option. Since video ads on Facebook are purchased based on an auction model, marketers may pay more for the 10-second feature instead of per impression.
The 10-second ad buy is available through the company’s Power Editor and API purchasing tools. The change has also been rolled out internationally.
Despite the introduction, a spokesperson for Facebook noted that the 10-second video ad isn’t really the best and most efficient method to purchase video ads. She believes value is immediately established for the brand when a consumer watches an ad for less time.
We strongly believe in giving marketers flexibility over how they buy video ads, and we listened to feedback which is why we’re offering the new cost-per-view option,” the spokesperson averred. “We don’t believe it’s the best option in terms of capturing the best value and brand objectives marketers care about, but we want to give them control and choice over how they buy.”
Facebook is attempting to remain competitive by listening to feedback from its ad partners. Last week, for instance, Facebook announced a new advertising model at the Cannes Lions advertising festival in France.
Twitter Launches Same Kind of Idea
Twitter is looking to make considerable gains on Facebook and Google Inc’s (NASDAQ:GOOGL) YouTube in the world of video ads.
The micro-blogging website announced earlier this month that it would be improving its viewability standards. Its ad model will now consist of charging only for video ads that have been 100 percent in full view of the user for a minimum of three seconds.
We’re putting this standard of 100 percent viewability in place because we think it’s simply the right thing to do,” wrote David Regan, senior product manager at Twitter, in the company’s blog post.”If a video is not 100 percent in view, we don’t think an advertiser should be charged.”
Twitter is also opening this new ad feature up to third-party verification systems.
Facebook, Google and Twitter are all acquiescing to the requests of marketers and are looking to enhance their video ad platforms. The industry’s digital marketing standards will only get better with time.