Roundtable discussions over online video advertising raised questions about standards, formats and what it's going to take for the space to grow up.

After developing through its infancy as a novelty act, and making its way through childhood as an also-ran to television, online video is grappling with its new strength in adolescence. To talk about video's latest transition, marketers and technology providers at the iMedia Agency Summit in Amelia Island huddled at the "Video Advertising" and "IAB Standards" roundtables.

Among the issues challenging the online video space is the sheer scope of content. When asked what the biggest challenge facing online video was, Brightcove VP of Ad Products & Strategy replied, "Scale. There's a lot of garbage inventory out there." 

The reality is that creating online video is cheap and anyone can do it. For every carefully produced music video, there are dozens (if not hundreds) of clips where everyday people are aimlessly dancing in their bedrooms to music, lip-synching their favorite songs or playing video game theme music on a piano. It's like buying a cable service package where you get three networks and 150 public access stations.   

For Colleen Dempsey VP, Western U.S. Sales at Specific Media, the range of content can be like playing Russian roulette with ads. "If we can't index the content, then people are going to be worried about where their ads are going." When the question of setting standards for classifying content came up, IAB VP of Industry Initiatives and Business Leo Scullin acknowledged, "people have brought that up, but there are a lot of other standards that we're working on first."

Another hurdle for video is the cost. It's not uncommon for the CPM (cost for 1,000 impressions) of online video ads to reach or exceed those of cable television. That can be a tough sell, said Erin Foxworthy, associate media director for Palisades Interactive. 

Additional costs for video include producing additional video to fit different ad formats and audiences. "Standard 30-second spots just don't work at all," said Moxie Interactive CMO, Shelley Bertsch. For one client, Verizon, Moxie is shooting ads in a range of different formats to optimize use of varying ad units. Consider skyscrapers and banners: video that works in one will probably not work for the other. 

The same goes for video ads across different sites. For example, a video that connects with audiences at iVillage will probably not have the same effect at Maxim Online. If your clients are movie marketers, which is the case with Palisades Interactive, this isn't an issue. Palisades' Erin Foxworthy described how some of her clients will cut as many as 20 different movie trailers. Taking those videos, "we'll find out which ones skew which way and serve those to the right sites," said Foxworthy.

While varying format and cuts have shown results, members of the roundtable were also looking ahead towards emerging use of video. Argonaut Media's CEO Jean DeLuca likes the choose-your-own-adventure format. This is the style where online video ads play up a conflict then stop. To resolve the conflict, users need to choose one of a few options. This format can be highly engaging and viral. Said DeLuca, "it creates a different environment, something new… teenagers want something new to show their friends."

Brightcove's Adam Gerber also suggested a "mixed unit experience." In this format, a short clip acts as a gateway to long-form content. According to Gerber, "it presents users with a quick invitation then drives long-form engagement." 

One reason we aren't seeing many of these new formats is a disconnect between the marketers and their ads. "Today, most clients… aren't paying attention to the broadband space," said Gerber. He then noted how frequency capping was greatly underused in online video ad campaigns. "Once they see how their budget is being implemented, it will drive change." 

Already, big changes are underway in the online video space. News last week from the upfronts told of TV networks revamping their broadband offerings and adding digital ad packages to sweeten deals. But according to Gerber, it's not from a passion to innovate. It's damage control. "The networks -- NBC, CBS, ABC and Fox -- wouldn't make broadband such a focus if they didn't see money being siphoned away from TV."

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