The growth rate of connected TV development is so steep that it is difficult to keep up with all the developments, let alone understand their impact, according to new research from adRise.
The Connected TV Market Report reveals that the marketplace has been proliferating as OEMs, content distributors, and advertisers have made it into “one of the hottest spaces” for consumer video technology, content distribution and advertising.
Basically, adRise has found that usage among all connected TV devices is increasing and, in aggregate, that this has led to a 25x growth surge among the apps. In addition, and unlike the web with short-form content, viewers are consuming long-form content by a 4:1 ratio. Indeed it suggests that premium content rules and also that, contrary to popular belief, long-form premium video content dominates connected TV devices and established players such as Netflix, Amazon, Starz, HBO, ESPN, and others have been leading the way.
adRise suggests that advertisers take note of its finding that viewers are investing their heaviest use of connected TV apps during primetime TV hours, on both the weeknights and weekends, with ads having a 95% completion rate. Long-form ads were said to perform nearly as well.
However, on a note of caution, the analyst warns that the connected TV market’s greatest hurdle is the fragmented device landscape that requires building apps and ad SDKs for each device. It does suggest though that solutions to this problem are already present.