This video is a music video for the song "Young Folks" by Peter, Bjorn & John. They are a Swedish indie rock band. I really like the video for this song (it also helps that this is one of my favorite songs right now.) I think animation works really well for music videos.
One of the things that I thinks make animation work with music videos is animation allows a certain fluidity that flows with the music. This music video in particular reminds me of some of the experimental animations we saw. A lot of the experimental animations played with the way images played with sound. The animations were fairly simplistic of just shapes and colors morphing. This video has that aspect but instead with drawn characters. They characters bob their head to the music and play and sing. Beyond this simplistic animation of the characters they are pretty stilted.
Another thing I found interesting is the use of word bubbles. It is very much like a comic that has been given a little bit of life to it. Like the song I find the video very stilted and repetitive but even so both the song and the video suck me in entirely.
It's interesting that foreign bands use animation for music videos much more often but I feel like animation works really well with it and should be utilized more often.