CTV Landscape pt. 2
Back in Q4 of 2022 as Netflix joined the Connected TV (CTV) landscape with its ad-supported tier, we shared our POV on the channel and its marketing implications as a whole (check out that blog here). Now, as streaming services continue to grow in popularity, CTV is becoming an increasingly important platform for advertisers. Due to this, we made it a priority to provide an update on where the industry is at. Overall, CTV offers a targeted and measurable way to reach consumers who are shifting away from traditional linear TV. This channel also provides a more engaging and interactive experience for viewers. As more consumers adopt CTV, it is likely to become a key part of any successful advertising strategy.
Disney Gets Connected
Disney Advertising has partnered with upstart company EDO to examine audience engagement across Disney’s streaming assets, starting with Hulu. The goal is to find new ways of measuring audiences who are increasingly consuming their favorite TV shows, dramas, and sporting events in a non-linear way. This move is part of Disney’s recent focus on streaming media, including moving flagship programs like “Dancing With The Stars” to broadband platforms and launching an ad-supported version of Disney+. Advertisers are expected to be interested in EDO’s outcome-based measurement metrics, which provide an alternative signal of ad performance that is simple and immediate.
So bottom line, how will this affect the CTV ad landscape – “this partnership helps build a solid foundation for industry adoption of new outcome based measurement metrics that allow us to understand Convergent TV ad performance”. – Michael Piner, executive vice president of Advanced Advertising
Numbers With CTV
The industry is ‘all-in’ on the CTV wave. Platforms such as Google’s Display & Video 360 have added new features like simplified reach and forecasting, cross-device conversion attribution, CTV audience features, and improved measurement, as a way to help them plan, buy, and measure CTV campaigns. These features make it easier for advertisers to discover new publishers and inventory, drive more efficient budget allocation decisions, and manage ad frequency across CTV apps.
CTV offers continuity to traditional TV while integrating the targeting capabilities of online advertising. Advertisers can reach their desired audience with programmatic technology and increased measurement capabilities. As a result, many advertisers and agencies are making connected TV a big part of their strategy this year.
New research finds that 59% of respondents who manage multimillion-dollar digital budgets say their upfront buying plans will either lead with CTV or balance linear and CTV buys equally. A full 29% of respondents say they’ll spend more on CTV. However, a balance must be struck between technological capabilities and viewer acceptability. 2023 is the time to experiment and discover the full potential of CTV.
Interested in how different platforms stack up against CTV competitors? Check out our little cheat sheet here with need to know facts of the CTV giants in the industry:
With the rise of connected devices and the increasing demand for a la carte content and digital subscription services, CTV is a data-driven channel that can effectively reach “cord cutters”. As growth persists, CTV platforms are improving their audience targeting and measurement capabilities to align with other channels used to reach qualified audiences.
Our approach to CTV includes:
- Utilizing our advanced measurement KPI, View-Influenced Site Visits, to allow for a better understanding of the impact CTV initiatives have on site performance.
- Vetting and pushing CTV vendors for robust-level of data / segmentation.
- Establishing and defining custom targeting segments by campaign for an audience-first data-driven strategy.
As always, we will keep our eye out for updates in the CTV channel to ensure the best omni-channel strategy recommendations for our partners.
Alexia George, Lead Marketing Specialist + Logan Didier, Marketing Intern