What is CTV? Or what is connected TV? A connected TV is a device that can be connected to the internet through it. The popularity of connected TVs has grown immensely over the past few years. According to Leichtman Research Group, 82% of US TV households have at least one Internet-connected TV device (compared to 80% in 2020, 74% in 2019, and 65% in 2016). eMarketer CTV also announced that 24 million U.S. broadband homes do not own a traditional pay-TV subscription service in 2018.
What is CTV advertising? Connected TV advertising is a form of video advertising that enables you to connect with consumers on connected TV devices, such as smart TVs, Apple TVs, Firesticks, etc. Connected TV ads create short-form video opportunities for brands that want to invest in their content and creativity to reach their ideal customers beyond the traditional limits of linear TV.
CTV trends are a great opportunity for marketers to reach people in new ways and control their media spending. There will be lots of growth opportunities for all types of media consumption across internet-connected devices. Giving you the power to reach audiences on the most popular apps, on every screen throughout the day, connected TV advertising is predicted to make up 60% of all video ad spending by 2022.
Similar to e-commerce, CTV 2022 ads are expected to take a sticker price. The idea of a 30-second ad being $50,000 or even $100,000 will become more and more normal as major corporations start bidding for bigger audiences and trying to fight for consumers on the small screen. As more advertisers begin to invest in TV (as an expanding market), it’s only expected that connected TV ads will follow the trend of increasing prices.
Multi-Channel Attribution is the measurement of the conversion path that leads to a completed sale. If your company is selling a $1000 product, then each customer costs more. As such, you need to make sure that every dollar you spend on marketing is worth it. Multi-channel attribution will tell you if a channel is worth investing in.
TV advertising effectiveness 2021 was a record year for the connected TV industry, driven largely by the increased consumer demand for video streaming services due to the pandemic. Connected tv trends 2021 of viewers were nothing the industry has seen before.
CTV growth 2022 is expected to continue surging as the connected TV advertising trend continues to take precedence in the consumer market. In response to the increasing demand for over-the-top (OTT) video streaming content, an increase in advertising spend on connected TV devices will be witnessed across industries and brands.
CTV growth 2021 reached 39% of total connected TV viewership 2021 from all streaming services globally, according to Pixalate. As the connected TV growth 2021 market expanded and consumer focus shifted over to more avenues than just traditional television, it’s good to know the industry is growing with it.
For example, CTV growth 2022 continues to skyrocket. Viewers are still watching for longer periods of time and watching a variety of content. CTV advertising growth will not slow down, so continue on to read to find out.
CTV advertising growth reports show US CTV ad spending would total $11.36 billion in 2021 and grow to $18.29 billion in 2024. Since then, people increased the amount of time they spent streaming video, and advertisers spent more money trying to gain the attention of those viewers. It’s now forecasted that more than $30 billion will be spent on connected TV ads by 2025, growing the CTV advertising market size tremendously.
GroupM predicts the CTV growth 2022 ad revenues will grow over 22% to over $20 billion from global TV ad spending 2021.
Connected tv advertising allows advertisers to reach consumers in a distraction-free, lean-back environment with relevant and targeted messaging. Connected TV advertising is benefiting from the general increase in programmatic advertising. In 2022, video will account for more than half of all US programmatic display ad spending.
Connected tv advertising is cost-efficient. A highly targeted market can be achieved at a low connected TV CPM, giving advertisers the chance to put more money towards creative materials that produce high-converting ads. Connected TV advertising offers the ability for brands to reach audiences on any device, anytime. So, Keynes couldn’t stress enough how important an advertiser’s connected TV ad really is. We’ve created a One View TV commercial review page that reviews TV commercials expressing what’s good and what could use work. Check out the page to get firsthand connected TV advertising examples.
We truly believe the benefits of CTV advertising are performance-driven, and couldn’t recommend it enough. To learn more about connected TV advertising, check out our blog page or contact us directly for questions to be answered.