The iab Australia Video Council's "State of the Nation" report for Wave 2 in May 2022 provides insights into the digital video advertising landscape in Australia. The report focuses on key areas such as drivers for digital video investment and the use of video for different purposes in the marketing funnel. It highlights the importance of tailored digital video creative alignment and the role of third-party cookies in the complex and exciting space. The report also identifies priority areas for industry focus and development to support the market in 2022 and beyond. The council, which represents advertising standards, best practice, creative, and research, drives industry projects related to streaming ads in all environments across different consumer screens. The report presents the results of the second wave of research and provides valuable insights for the industry.