Redefining What Matters In Streaming TV Advertising
Author: Tom Cox, President, Premion.
As we adapt to new ways of working and living, brands can redefine their relationships with their customers by showing humanity and offering support. This is a pivotal moment to re-examine marketing and media plans to emphasize building long-term brand value.
As consumers are staying home, TV viewership is up nearly 60%, according to Nielsen. OTT streaming has increased significantly in recent weeks. Between March 1 through March 16, streaming hours via connected TVs (CTV) are up 24% compared to a year ago, and hours streamed using a streaming box or stick are up 16%, per Comscore.
In these unprecedented times, more consumers are embracing ad-supported streaming TV options. Also, for some brands, such as D2C, ecommerce, online food delivery, online education, home fitness and wellness, this is a timely opportunity to drive short-term business and build long-term brand awareness.
While some advertisers may go dark during this time, Kantar’s COVID-19 Barometer projects that a six-month absence from TV advertising will result in an estimated 39% reduction in total brand communication awareness. However, it’s crucial for advertisers to strike the right chord in delivering a message that’s focused on serving the well-being of the consumer.
Read more on MediaPost here.