45% of Digital Political Ad Spend in 2024 Will Go to CTV
by Frankie Karrer
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With many consumers hitting the brakes on their subscriptions due to rising costs, the streaming world is in for a shake-up. Quoting Antenna data, eMarketer has revealed that streaming service cancellations rose to 6.3% in November of 2023 — up from 5.1% the previous year. In fact, a significant number of subscribers (25%) have axed subscriptions to at least three major streaming services in the last two years. And with 21% of streamers planning to reduce their service count in 2024, it looks like that behavior is bound to continue.
It’s not all bad news for advertisers and platforms. Streaming companies are finding ways to combat this ship jumping — the number one way being ad-supported tiers. Disney+ in particular is seeing success on that front, with almost 60% of the platform’s new subscribers opting for the more affordable ad-supported option. Amazon’s Prime Video is taking a different approach by adding ads to their base platform this month, giving viewers the option to opt out — or rather, upgrade — by paying an extra fee, a move that is expected to generate up to $5 billion in annual revenues. While this approach isn’t exactly going to solve issues around consumer dissatisfaction with streaming prices, we can expect to see continued experimenting from streaming services in general as they seek to remain relevant in an increasingly competitive market.
Brands Like Francesca’s & Care/of Are Betting on Connected TV in 2024
Apparel brand Francesca’s first started experimenting with Connected TV ads in late 2022. One year later, the brand’s campaigns had yielded 12 million impressions, reached 4.6 million households and delivered a 3.2 ROAS.
Curating Context: An Analysis of Brand Favorability and Connected TV Ads
A recent study from AVCA has highlighted CTV ad qualities that are more conducive to increasing engagement. This breakdown dives into the findings relevant to brands and CTV advertisers looking to improve their approach in 2024.
CTV: The Programmatic Hero Brands Have Been Waiting For
TV advertising has long been a powerful channel to reach captivated viewers. But now the rise of Connected TV has empowered brands to more accurately target audiences on the same engaging screens — programmatically.