The State of CTV Advertising Market: New Research with Digiday
When the pandemic confined people to their homes, streaming became a main source of information, entertainment, and escape. The freedom to view content on any device at any time became even more of a necessity for consumers and greatly accelerated viewership from linear to connected TV (CTV). This trend, along with many others brought about by the pandemic, will be a lasting one; eMarketer predicts that by the end of 2024, fewer than half of U.S. households will subscribe to linear TV. Meaning, the CTV advertising market will likely see plenty of growth.
The ongoing streaming boom has prompted marketers to revamp their TV advertising through a digital lens. We sat down with leaders from General Motors and Allergan to learn how they made the shift to CTV and how that’s impacted their business. We also surveyed over 100 brand marketers and agency executives to get a better understanding of where the industry is in its CTV advertising journey. See what they had to say in our new State of CTV Advertising report.
CTV Advertising report highlights
- Many marketers are just beginning their connected TV journey. Nearly a quarter of respondents just started shifting investments to CTV less than a year ago (24%) and nearly a quarter have not started at all (24%).
- General Motors has been creating increasingly interactive CTV spots for brands such as Cadillac, allowing consumers to browse different interior features, change the colors on screen, and book test drives. “What we were trying to accomplish with that campaign was catering our creative to the uniqueness of the connected TV environment.” - David Spencer, Manager of Emerging Media and Partnerships, GM
- Connected TV is now a part of marketers’ omni-channel strategies, and a majority of CTV advertisers are running CTV alongside social media (83%), display (79%), mobile (77%), and desktop (67%).
- Over a third (39%) of respondents reported that CTV has increased their return on ad spend, while a third have yet to quantify the impact.
“These campaigns are more effective and more transparent, from a measurement standpoint, than traditional linear TV. Being able to further push the envelope for Allergan Aesthetics — with new engagements such as QR codes, SMS campaigns or engaging overlays — wouldn’t have happened if we did not have the support from leadership, and proof in the pudding driven by case studies.” - Myles Dacio, Senior Marketing Manager, Allergan Aesthetics
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