Q3 CTV Ad Spend Grew 39% YOY
by Frankie Karrer
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Brands are gearing up for the biggest summer since 2019. Here’s what you need to know.
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While the COVID-19 pandemic affected brands in all industries, perhaps no one had the world turned upside down more than those in the experiential, travel, and tourism verticals. Thanks to lockdowns, public distancing, and terms like “mass spreader events,” people were staying home, and brands were postponing events out of precaution. For the last two years, summer—the biggest season for these brands – was effectively canceled.
That is, until now. Summer 2022 looks like a time machine into the past—bands are selling out concert tours, pro sports teams have full seasons, theme parks are fully operational, and more people are traveling and taking vacations than they have in years.
For experiential, travel, and tourism brands, this light at the end of a dark tunnel is welcome news—but many might find themselves unprepared. To help brands out, Kristen Navarro, Customer Success Director at MNTN, is giving a detailed guide on how to maximize this golden opportunity—and why CTV needs to be at the center of your plans. Don’t miss out on this important webinar—RSVP now for free.
For the last few years, experiential, travel, and tourism brands had to get creative to keep the lights on, including remote events and VR tourism. But while the world stopped, technology didn’t—CTV continued its rise to dominate the advertising world, and new technologies were both created and perfected in the background. Now that consumers are flocking back to in-person events, advertisers need to be ready to strike—and that means refreshing dormant strategies and changing habits formed during the pandemic.
For consumers and brands, this summer represents a fresh start. For many consumers, this will be their first time traveling or experiencing live events after a couple of traumatic years—and that means the experiences they have will be part of memories that last a lifetime. For brands that are ready to greet these customers forming new buying habits and brand loyalty, this summer represents an opportunity to turn one summer exchange into a lifelong customer.
Audiences are eager to get out and see more—and CTV’s audio-visual format provides a window to the outside world. In a year where travel is on the rise—85% of adults are interested in traveling this summer, expecting to spend over $95 billion—CTV has played the role of an event planner: 86% of consumers interested in travel are CTV viewers, with 77% watching ad-supported CTV in the last year. And with all this travel, consumers are spending less time inside—which means their TV habits have gone from COVID’s appointment viewing to CTV’s on-demand.
All of this is great news for advertisers, who can use the platform’s audience-first approach to target specific audiences and visually show them experiences—regardless of when and where they’re watching. Further, CTV’s nimbleness means brands can deploy creative strategies to showcase events all summer long. For instance, a sports team could refresh its ad every week to reflect the upcoming game, tourism brands can update to reflect any new local stories, and festivals or concerts can easily update creative if the lineup changes. This flexibility marries the best of linear TV’s “show don’t tell” approach with digital marketing’s up-to-date information and targeting.
There are even more strategies ready for brands looking to make this a summer to remember. RSVP to Get Your CTV Campaigns in Shape This Summer for more insights including what dormant strategies might need refreshing and how you can use new technologies like geo-fencing and affinity-based audience targeting in your campaigns. Sign up to save your seat today.