More than half of US advertisers using CTV, OTT to increase spending | Media Analysis | Business | News | Rapid TV News
By continuing to use this site you consent to the use of cookies on your device as described in our privacy policy unless you have disabled them. You can change your cookie settings at any time but parts of our site will not function correctly without them. [Close]
Investment and optimism for connected TV (CTV) advertising are high and continuing to rise fuelled by its ability to precision target and achieve full-funnel brand goals, says research released by Advertiser Perceptions and Premion, a premium provider of CTV/OTT advertising solutions.
premion ad findinsg 15JUly2022
The study calculated that more than 50% of advertisers using CTV/OTT will increase spending, with an average increase of 22%, and while two-thirds of advertisers were shifting budgets from digital, social and linear TV to fund CTV/OTT spend increases, 30% said that funding will come from an overall increase in ad budgets. Additionally, more than four in five advertisers believed that the value of CTV/OTT was greater than, or equal to, that of primetime TV, with two in five saying the channel is more valuable.

When considering performance, 43% of marketers noted CTV/OTT spend increases were being driven by the ability to achieve brand awareness and performance marketing goals. Precision audience targeting and extended reach for linear TV campaigns top the list of CTV advertising audience benefits. While reach and frequency, as well as driving brand lift and sales lift, are the top ad campaign metrics, many advertisers are still measuring CTV via website visits and impressions by network.

Nearly three-fifths (56%) of advertisers said the ability to precision target audiences was the top reason for increasing CTV/OTT spending in 2022, and almost 70% of advertisers agreed that CTV/OTT allowed them to target audiences locally in ways that are not possible with traditional TV. One in two advertisers used impressions and increase in brand awareness to evaluate campaign ROAS (return on ad spend).

“Advertisers have embraced CTV and they’re shifting bigger budgets to the medium as an essential buy for driving brand awareness and performance marketing,” said Premion president Tom Cox commenting on the findings of the survey.

“Our study validates that CTV has become an invaluable channel for brand marketers and agencies to follow their audiences, plan with data-driven targeting, and measure with outcomes-based performance. New data capabilities make CTV even more compelling for advertisers to gain a complete understanding of audience behaviours and to connect viewership to direct business results.”