Leaders of the advertising, media and entertainment sector have converged in New York, London and Melbourne for the inauguration of the Connected TV Marketing Association (CTVMA), the global industry trade body of the advertising, media and entertainment sector.
The CTVMA has been set up to inform and educate the advertising, media and entertainment sector on the commercial opportunities of Connected TV platforms.
The Association’s founders predict that in 2012, television advertising will join the 21st century, with Internet-connected televisions, from brands such as Samsung, Sony and LG, making up to 90 per cent of the global TV market by 2014, with sales reaching 123 million.
According to the CTVMA, Connected TVs offer brands the chance to connect their offline spend with the rapidly growing online content market, with TV applications or targeted ad campaigns served by ad networks across electronic programme guides, and that 85 per cent of marketers are interested in advertising on Internet-connected TVs.
“The CTVMA is being launched today to address these issues currently being faced, by not only advertisers, broadcasters and rights holders alike but, by the TV set makers themselves,” said James Grant Hay, Founder and President Asia-Pacific of the Connected TV Marketing Association. “As TV platforms are likely to compete with broadcasters to buy programme content from rights holders and serve advertising against it.”
Doug Scott, Honorary Chair of the CTVMA, President of Ogilvy Entertainment, said his company was committed to the development of advertising and original brand-funded programming on Connected TV platforms to enable a direct dialogue between consumers and brands.
Zachary Weiner, Co-Founder and the Association’s President, North America, said that Connected TV platforms supersede broadcasters in owning programme content and selling advertising against it. “Marketers are also frustrated by the lack of audience information on who they are targeting and ad networks face issues of interoperability, scale and standards across platforms,” he noted.
As part of its future plans, the CTVMA has immediately embarked on an open industry consultation process, inviting leaders from the advertising, media and entertainment sector to participate in formulating an industry terms of reference. The Association currently comprises of 47 Country, Regional and Chapter-appointed Presidents, Vice-Presidents with representatives around the world.
An Australian board will be announced at the CTVMA’s first industry event in Sydney on March 7, 2012.