Digital Advertising and Connected TV Adoption Explode
In 2017, digital advertising beat traditional television ad spend for the first time. Worldwide digital ad spending reached $209 billion, while television ad spend was a still respectable $178 billion. The growth of digital channels is predicted to continue, and with the addition of connected TV opportunities, it’s growth could easily hit double digits, year over year. The reason is simple. Connected TV is a rapidly growing part of the content delivery marketplace.
What is Connected TV?
The term connected TV simply refers to any video delivery to your television that uses the internet. If you watch on Hulu, Netflix or any other streaming service to your television, that is connected TV (CTV). Many platforms deliver viewing experiences through devices like Roku, Fire Sticks or gaming consoles. All of these methods turn your television into a delivery system for video through a digital channel, and all of them offer advertising opportunities.
Leverage CTV for Brand Awareness on Mobile and TV
One of the biggest benefits of connected advertising for brands trying to expand their reach is the omnichannel nature of this advertising. Most connected providers offer the same content on mobile and TV, so a single advertising avenue can deliver to both audiences. That simple fact can vastly increase the reach of an awareness campaign. The increased reach and lack of friction between mobile and traditional TV viewing mean more people watching, and surprisingly, fewer people attempting to avoid advertisements.
Since consumers associate CTV with traditional TV, there is little resistant to watching pre- and mid-roll advertisements. Studies show that as many as half of all viewers are prepared to sit through advertisements to continue enjoying the content delivered through apps like Hulu.
Mobile advertising has moved away from flat images and toward video for several years, and with that switch has come increased transparency. You can track clicks, views, sources, and increasingly sophisticated fraud prevention techniques help guarantee appropriate attribution. Since many CTV platforms were digital first, with display over TV a relatively new addition, all of the tracking mechanisms are already in place. With the growth in CTV viewership, you have the opportunity to rapidly grow your reach at a fraction of the cost of traditional TV airtime.