COLOGNE, Germany –  Advertising agencies are spending more and more on digital video channels – and most of the money moving from existing media is being switched from traditional TV.

According to programmatic video ad tech vendor’s 2014 European State Of The Video Industry survey, 2014 spending on digital video advertising is up 42% compared with a year earlier, with a 25% increase expected next year in the number of video ad buyers transacting through programmatic private marketplaces.

But, of the video ad money diverted from other media, broadcast TV was the channel most affected. Still, that figure does not take account of new video ad spending – and it stands to reason that TV is most likely to see transference to digital video, since the underlying spot ad format bears close similarity on both TV and internet.

“We went from, a year ago, educating the world around what ‘programmatic’ means… fast-forward a year later, people are starting to use the tools,” according to AOL Platforms’ CEO Bob Lord.  AOL acquired the company last year and operates it a as unit within AOL Networks.

The report was issued today at DMEXCO.