45% of Digital Political Ad Spend in 2024 Will Go to CTV
by Frankie Karrer
2 Min Read
Boldly going where no brands have gone before
3 Min Read
Connected TV has changed how we think about advertising and TV ads. Once relegated to being unable to target, track, and confined to a box, TV ads have broken free into a futuristic world of targeted creative, multi-device attribution, and omnichannel marketing. Today’s TV ad experience would have been deemed science fiction just five years ago—and now it’s poised for another generational leap.
To help brands prepare, Marwan Soghaier, Chief Product Officer at MNTN, will be speaking to Digiday about what strategies marketers need to learn today to be successful tomorrow. From boosting engagement across other channels to optimizing creative strategy by device type, Marwan will showcase next-level strategies marketers need to employ to uncover hidden opportunities and unlock CTV’s true potential. Don’t miss out on this important webinar—RSVP now for free.
Once dominated almost exclusively by giants like Netflix and Hulu, the last two years have seen a new generation of contenders to the throne in the likes of Disney+, HBO Max, Discovery+, and Peacock. As a result, a new streaming war has kicked off. Today, all of the major services have announced some form of ad-supported offering—even Netflix, the company that once prided itself on a lack of ad support. These ad-supported tiers not only help users get access to the same content for less (or no) money, they often outperform their premium paid-service counterparts—a recent poll found that 73% of consumers prefer ad-supported content that either removes or lowers the subscription cost. As a result, more people are getting into the CTV ecosystem and choosing the cost-effective subscriptions that serve ads.
With viewers spread out over so many services, it’d be too time-consuming and resource-draining for most brands to try and make direct deals with everyone. Savvy advertisers are getting ahead of this challenge by embracing an audience-first approach to reconnect their viewers across a fragmented CTV market. By taking an audience-first approach, you skip managing direct deals with countless streaming services and instead focus on targeting what matters most—your audience itself. This is often done through CTV’s ability to apply targeting tactics to a household IP address, eliminating the need to hunt down your audience and hope they watch your ad. As a result, your ad is always being seen by the right viewer at the right time—regardless of when and what they’re watching.
With more viewers than ever choosing free ad-supported apps, it stands to reason that they’re watching more ads than ever too. This increase in demand has led to a great ad rush for brands as they attempt to produce more creative and keep up with demand. And as more audiences cut the cord for CTV, and more media companies launch new services to greet them, this demand is only going to increase. Unfortunately, scaling high-performing creative to meet demand is expensive, time-consuming, and creatively taxing. Worse, an increase in views means a higher risk for ad fatigue—so brands not only need to make more creative, but they also need to refresh it more frequently too.
Thankfully, new advertising innovations have arrived to help. Brands are relying on turnkey solutions like QuickFrame by MNTN to help them scale their video output— creating ads for every audience, channel, and objective. Similarly, services like Creative-as-a-Subscription give brands the ability to get custom-made, high-performing creative without the need for production costs, scriptwriting, and expensive video shoots. And as necessity is the mother of all inventions, this will only be the tip of the iceberg—advertisers need to stay updated on industry advancements as new solutions and innovations arrive soon to help advertisers in the next phase of Connected TV advertising.
There’s no better time to prepare for tomorrow than today. Get the strategies you’ll need to reach new levels of CTV success—and be ready for what comes next in this dynamic new world of advertising. RSVP to save your seat today.