Research from advanced TV platform company Cadent reveals that connected TV (CTV), addressable, and advanced advertising are poised to play a major role in the next wave of growth in the TV advertising ecosystem, with 72 per cent of respondents saying in two to five years, CTV and other data-driven TV methods of advertising will be critical in reaching brand audiences. Sixty-six per cent of respondents said an audience-first TV buying approach will be table stakes in two to five years.
The study, TV’s New Wave: Marketers Take on the Shift to OTT, CTV, & Addressable, from Brand Innovators and TV[R]EV, explores marketer sentiment around emerging television mediums.
As consumers rapidly shift their viewing from linear TV to streaming and increase their overall time with screens, marketers and agencies understand the need to make CTV and other advanced advertising techniques a greater part of their overall marketing strategies, if they haven’t already. Fifty-nine per cent of marketers surveyed currently run CTV ads, with the top three reasons being wide audience reach, sophisticated targeting capabilities and “lighter ad loads keep audiences engaged”.
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“As viewer behaviour rapidly shifts, advertisers are tasked with understanding the full benefits of CTV, OTT and addressable TV and introducing them into their media plans,” said Paul Alfieri, CMO, Cadent. “Technology partners have a responsibility to provide more clarity around these mediums so advertisers can take full advantage of them and reach audiences wherever they’re viewing today.”