Over 100 CEOs and senior executives from surveyed egta members – leading TV and radio sales houses across Europe and beyond – expect growth in ad spend for both Total Video and Total Audio in the next three years. An exclusive survey carried out by the Brussels-based trade association sheds light on the continued transformation the advertising industry is expecting.
Opportunities ahead lie in targetability and personalisation
With change comes opportunity. Approximately 88 per cent of respondents perceive targetability – enabling advertisers to pinpoint their target markets – and personalisation – creating relevant and unique experiences that hold attention for longer – as a priority for their company in the coming years.
Other particularly important growth areas highlighted by senior executives are streaming/online audio, new ways for audiences to access content (additional screens and devices), new sources of data shared by advertisers and or telco providers, and addressable TV.
Reaching audiences where they are today
While opportunities abound on the horizon, senior executives also identified some of the challenges they foresee in this changing media landscape. More than 80 per cent of C-suite executives state that they are relentless in their attempt to reach audiences where they are today – thus making up for the decline in linear TV ratings. Their focus is on building the right infrastructure that will allow today’s TV to compete with international online platforms and speed up the process around the identification and adoption of cross-platform measurement solutions.
Shaping the future of advertising
Seventy-seven per cent of TV members and 78 per cent of radio members are positive about the future advertising market. Optimism remains – if slightly higher this year compared to two years ago – that both the Total Video and Total Audio ad markets continue to grow.
Broadcast TV and radio currently remain by far the biggest advertising revenue sources for broadcasters. However, respondents aim for online to take a larger share in the future. Approximately 90 per cent of C-suite executives believe that advertising on online properties will represent a greater proportion of their revenue sources by 2022.
Commenting on the results of the survey, Katty Roberfroid, egta’s Director General said: “The homogeneity in the results we received from a vast majority of select top executives does show the way forward. If we are to future-proof today’s TV and radio’s business, both on air and online, we must continue to cooperate and innovate on all fronts: infrastructure, formats, measurement, and more. This will help advertisers reach the consumers around the premium content they love – in an always brand-safe environment that is respectful of their experience and privacy.”