As content and consumption offerings evolve to meet the needs of modern viewers, brands and agencies are being challenged by a fragmented media landscape that is no longer bound by time, platforms, locations or devices and where converged TV ad spending is surging says research from Innovid.
The Great Unification of Converged TV report examined critical trends, challenges, and opportunities within the fragmented converged TV landscape. Fundamentally it found that 80% of respondents increased their converged TV investments year over year. In addition, of the more than 250 senior brand and agency respondents polled in September 2022, nearly all (92%) said a unified view of converged TV reach and performance across linear TV, connected TV (CTV) and digital video is important.
Nearly 45% of respondents allocated 20-40% of their total media ad spend to converged TV, and 31% devoted 40-50%. Innovid found that with the increase in converged TV ad spend, video mixes were diversifying and that by no longer dedicating the majority of spend to one platform, respondents illustrated a wide range of impression allocation across linear, CTV and digital video.
When asked to rank the top pain points around converged TV advertising, viewer fragmentation was the top challenge (40%), followed by creative personalisation (37%) and inconsistent measurement (32%). When asked what’s needed for brands and agencies to improve the performance of converged TV campaigns, 66% stated consolidated technology while 63% responded unified measurement to streamline and automate delivery and measurement.
Improved ad relevance was cited by 62% of respondents as a top benefit of having a unified view of converged TV, driving deeper engagement by strengthening cross-platform personalisation and creative performance. A close second, at 59%, was increased data ownership, and having a wider range of data access to measure relevant metrics.
“The TV experience is being reimagined…To truly thrive in this ‘converged TV’ market – which encompasses linear, CTV and digital video – marketers need a unified view of advertising and audiences,” said Innovid chief marketing officer Stephanie Geno commenting on the Great Unification of Converged TV report. “Not only to understand how cross-platform campaigns are really working, but also to uncover actionable insights to reach and engage with the right consumers where they are. The time is now for advertisers to seek a unified view into reach and performance through a consolidated tech platform that can surface the actionable insights necessary to consistently inform strategies and drive business impact.”
Nearly 45% of respondents allocated 20-40% of their total media ad spend to converged TV, and 31% devoted 40-50%. Innovid found that with the increase in converged TV ad spend, video mixes were diversifying and that by no longer dedicating the majority of spend to one platform, respondents illustrated a wide range of impression allocation across linear, CTV and digital video.
When asked to rank the top pain points around converged TV advertising, viewer fragmentation was the top challenge (40%), followed by creative personalisation (37%) and inconsistent measurement (32%). When asked what’s needed for brands and agencies to improve the performance of converged TV campaigns, 66% stated consolidated technology while 63% responded unified measurement to streamline and automate delivery and measurement.
Improved ad relevance was cited by 62% of respondents as a top benefit of having a unified view of converged TV, driving deeper engagement by strengthening cross-platform personalisation and creative performance. A close second, at 59%, was increased data ownership, and having a wider range of data access to measure relevant metrics.
“The TV experience is being reimagined…To truly thrive in this ‘converged TV’ market – which encompasses linear, CTV and digital video – marketers need a unified view of advertising and audiences,” said Innovid chief marketing officer Stephanie Geno commenting on the Great Unification of Converged TV report. “Not only to understand how cross-platform campaigns are really working, but also to uncover actionable insights to reach and engage with the right consumers where they are. The time is now for advertisers to seek a unified view into reach and performance through a consolidated tech platform that can surface the actionable insights necessary to consistently inform strategies and drive business impact.”
