The 100% digital future of TV just got a lot closer.
On Tuesday, ESPN, Fox and Warner Bros. Discovery unveiled a plan to launch a sports streaming platform in the fall. This announcement is another step forward on the journey to 100% digital TV. And it’s a huge step, because sports is the last linear TV mainstay.
This news is big for viewers, because this offering is unique enough to appeal to those who have held off on cord-cutting due to access to sports programming. Among the sports the platform will feature: NFL, NBA, MLB, NHL, NASCAR, the NCAA basketball tournament (men’s and women’s), and the FIFA World Cup.
The Era of CTV Advertising Arrives
The joint venture doesn’t have a name yet, but it does have a clear message for advertisers: The era of CTV advertising is upon us.
Advertisers, if you haven’t paid attention to CTV, it’s time to get on board. You need to meet audiences where they are — and they are streaming sports.
This ESPN-Fox-Warner Bros. news is part of a major trend. Netflix just spent reported $5 billion on the rights to World Wrestling Entertainment Raw. (Well, maybe it’s not technically sports, but some people think it is. Shhhh).
Amazon paid $1 billion for the exclusive rights to stream Thursday Night Football. And the Super Bowl, through Paramount+, will likely set a record for the most streamed sporting event, a record likely to soon be broken.
Where eyeballs go, so do ad dollars. Currently, 88% of U.S. households own at least one internet connected device, such as a smart TV or game console, according to Leichtman Research Group. Additional research found that 54% of those who plan to watch the NCAA basketball tournament plan to stream at least one game.
The Advantages of CTV Advertising
CTV advertising, which has the advantage of instantly supplying reach, frequency, and performance data, is poised for continued massive growth, which may only be accelerated by the coming launch of this new sports streaming service. CTV ad spending is projected to reach $40.9 billion by 2027, according to eMarketer.
Advertising on CTV enables huge advantages for brands. It permits advertisers to reach their consumers where they are. CTV enables brands to use advanced creative, such as QR codes and other interactive formats, to generate immediate feedback on their campaigns. And advertisers can analyze data to make better decisions on optimizing where to advertise and what creative to emphasize.
Advertisers, if you’ve been holding out on CTV, it’s time to get in the stream. The water’s fine.
Learn more about the power of CTV advertising.