What TV and Media Execs Really Think of CTV Advertising
by Stephen Graveman
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2020 may go down in history as one of the most challenging years to date for marketers. Luckily, digital video channels have been holding strong – bolstered by the continued success, stability, and increased adoption of Connected TV. So it comes as no surprise that many media buyers are swapping linear television for streaming. According to the Interactive Advertising Bureau’s recently released 2020 Digital Video Advertising Spend Report, the average CTV spend for this year is expected to reach $16M per advertiser, with more than half of buyers shifting their broadcast (53%) and cable (52%) advertising budgets over to CTV.
Many industries are taking advantage of the stability that Connected TV has to offer compared to cable TV advertising. Two of the industries most highly invested in CTV are retail and media/entertainment, where advertisers are spending an average of $32.2M and $31.9M respectively. Per the IAB’s analysis, they’re being drawn to advertising on CTV because of the trusted, brand safe environments and the premium content. As more brands shift their ad dollars away from linear and toward CTV, marketers should be looking at how they can adjust their own advertising mixes to better fit the current landscape.
Digital Media Companies Take on TV During 2020 NewFronts
While the trend of audiences moving away from television towards digital media has been present for years, it has only been accelerated due to the pandemic.
Do Consumers Care About the Difference Between Linear and Connected TV?
Streaming services are popping up seemingly every month, cable subscriptions are dropping, and viewing on Connected TV is surging while people stay at home during the pandemic.
Connected TV Device Ownership Continues To Rise
The use of Connected TV devices in U.S. homes keeps growing. Now, 80% of TV homes have at least one Connected TV device, according to Leichtman Research Group.
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