Pay TV and Cable Lost 5.8M Subscribers in 2022
by Frankie Karrer
3 Min Read
Speak to a CTV Expert
Navigating travel’s big comeback year
4 Min Read
The last few years have been a bumpy ride for travel brands. COVID restrictions, lockdowns, technological disruptors and changing consumer behaviors—it’s enough to exhaust even the most seasoned pro trying to catch up. And that’s before you even factor in a travel industry that went from 0 to 60 almost overnight, as the world opened up and people started making travel plans. Now the market is white hot and there’s little time to waste. You’re probably wondering how leading travel brands are navigating this booming post-COVID world. We did too, so we asked them—and we’re sharing what we found out.
Join Tim Edmundson, Director of Content & Research at MNTN, as he reveals key insights from the study that shows how travel brands are maximizing this summer of opportunity. Edmundson will use data-driven insights sourced from senior travel marketers to uncover what strategies they’re updating, how they’re navigating new pain points, and why they’re embracing Connected TV advertising.
Registration is free—RSVP now to save your spot. In the meantime, here’s a preview of what Edmundson will be discussing.
The last few years have been understandably quiet for travel—a little too quiet. Seemingly overnight, the world opened back up and people are traveling more than ever. An Expedia survey found that 65% of respondents plan to “go big” this year after years of being locked inside; similarly, 63% of travelers say they need to “make up for lost time.”
That’s equaling long lines at airports, empty car rental lots, and no vacancies at resorts everywhere; just this summer alone, travel is expected to hit $95 billion. And travel plans show no signs of cooling down with the temps; 7 in 10 Americans have plans for leisure travel this year. All of this equals a rush of new consumers, eager to make new memories, resume activities, and form new travel habits—and brand loyalties. For travel brands, the stakes have never been higher—few ever get to experience a fresh reset like this. The board has been reset and everyone is scrambling to be a part of customers’ emotional “return to normal.”
But as travel advertisers dust off their ad campaigns and reheat the engines, many are realizing a lot has changed since 2019. Campaign strategies, ad platforms, and even consumer behaviors have dramatically shifted over the last two years. It’s not hard to see why—while they were locked inside, U.S. consumers started watching more streaming services, many of which were free ad-supported channels. These customers not only spent the last two years changing how they interact with brands, they learned to rely on their TV as a window to the outside world.
Bite-sized social media content, a cornerstone for advertisers pre-COVID, is being challenged as marketers follow their audience—travel advertisers are now spending more on TV ads ($1.08B) than digital ($793.48M). This puts some advertisers in a bind, many of whom are eager to leverage TV’s storytelling capabilities and audience but have come to rely heavily on digital’s performance marketing capabilities. This has driven many to embrace a solution that combines the best of both worlds: Connected TV.
To see how travel brands are staying ahead with CTV, MNTN and WBR polled marketers from one hundred leading travel brands. Respondents indicated that not only are they already seeing big benefits to leveraging CTV—they have even bigger ambitions for it in 2023:
For the marketers interviewed, CTV has become a complementary channel for their digital strategies—and 56% expect to increase those ad budgets over the next year. For travel brands, CTV represents a big opportunity: a burgeoning ad channel that’s gaining popularity, fits alongside other ad strategies, and will continue to rise in priority for both users and advertisers.
This isn’t even scratching the surface of the key insights and strategies we learned. RSVP to save your seat for Have Ad, Will Travel: Why CTV is The Window to the World for Jetsetters to get more actionable insights to make this a year to remember—for both your brand and your customers. We look forward to seeing you there.