Survey: Converged TV investments rising
November 14, 2022
Findings from converged TV delivery, personalisation, and measurement advertising platform Innovid’s report, The Great Unification of Converged TV, reveal that 80 per cent of respondents increased their converged TV investments year over year.
In addition, of the more than 250 senior brand and agency respondents polled in September 2022, nearly all (92 per cent) said a unified view of converged TV reach and performance across linear TV, CTV and digital video is important.
“The TV experience is being reimagined,” said Stephanie Geno, Chief Marketing Officer of Innovid. “As content and consumption offerings evolve to meet the needs of modern viewers, brands and agencies are challenged by a fragmented media landscape – one that is no longer bound by time, platforms, locations, or devices. To truly thrive in this ‘converged TV’ market – which encompasses linear, CTV, and digital video – marketers need a unified view of advertising and audiences. Not only to understand how cross-platform campaigns are really working, but also to uncover actionable insights to reach and engage with the right consumers where they are.”
Key takeaways from the report include:
- Converged TV Spend Grows as the Video Mix Diversifies: Nearly 45 per cent of respondents allocated 20 per cent to 40 per cent of their total media ad spend to converged TV, and 31 per cent devoted 40 per cent to 50 per cent. With the increase in converged TV ad spend, video mixes are diversifying. No longer dedicating the majority of spend to one platform, respondents illustrated a wide range of impression allocation across linear, CTV, and digital video.
- Fragmentation Challenges in a Converged TV Market: When asked to rank the top pain points around converged TV advertising, “viewer fragmentation” was the top challenge (40 per cent), followed by “creative personalisation” (37 per cent) and “inconsistent measurement” (32 per cent).
- Components for Converged TV Success: When asked what’s needed for brands and agencies to improve the performance of converged TV campaigns, 66 per cent stated “consolidated technology” while 63 per cent responded “unified measurement” to streamline and automate delivery and measurement.
- Benefits of a Unified View: “Improved ad relevance” was cited by 62 per cent of respondents as a top benefit of having a unified view of converged TV, driving deeper engagement by strengthening cross-platform personalisation and creative performance. A close second, at 59 per cent, was “increased data ownership,” and having a wider range of data access to measure relevant metrics.
“The time is now for advertisers to seek a unified view into reach and performance through a consolidated tech platform that can surface the actionable insights necessary to consistently inform strategies and drive business impact,” added Geno.