Winning CTV Strategies in a Shifting Advertising Marketplace
2024 has emerged as a standout year for advertising, driven by tentpole sporting events and the elections, with CTV attracting more ad dollars than ever before. As we close out the year, we caught up with Daniel Spinosa, President of Premion, to dive into highlights from from their new report, Streaming TV Trends & Outlook: The Streaming TV Playbook – Winning Strategies for Marketers in a Shifting Advertising Marketplace, created in collaboration with BIA Advisory Services. Daniel shared his take on the top priorities for CTV advertisers and how they can stay ahead in an increasingly fragmented and fast-evolving landscape.
We’re always interested in new insights on the state of streaming TV. Tell us about the focus of your new report?
At Premion, we’re always looking to deepen our understanding of what matters most to local advertisers and how to prepare for the future. That’s why we partnered with BIA Advisory Services to tap into their comprehensive local advertising market forecast and long-term projections through 2028. Together, we’ve created a report packed with actionable insights to help advertisers navigate the rapidly growing yet complex streaming TV marketplace.
Consumers have fully embraced streaming for its convenience, choice, and control, making Connected TV (CTV) the fastest-growing advertising channel. This shift has elevated CTV into a powerful full-funnel advertising medium, with BIA projecting local ad spending on CTV/OTT to reach $3.6 billion for 2024, including $1 billion in Political spending —a 53.9% increase from 2023.
Viewing on CTV—whether on smart TVs or other streaming devices—accounts for the majority of streaming TV screen time and ad spending. Consequently, CTV has become the centerpiece for media buyers looking to complement traditional TV campaigns and maximize their reach within the streaming ecosystem.
With the growth in ad-supported streaming TV, it can be confusing for advertisers. How can they navigate the increasing number of providers and choose the best buying methods?
We’re seeing more advertisers across industries entering the streaming space. However, these advertisers come with varying levels of experience and internal resources, from brands with in-house teams to agencies managing streaming TV campaigns for multiple clients. It’s clear that advertisers need guidance on balancing their goals, resources, and buying strategies.
As the landscape becomes more fragmented, flexibility in media buying has become essential. Many advertisers are adopting a multi-faceted approach, combining managed services and programmatic buys to tailor campaigns to their specific needs. Regardless of the advertiser’s workflow, providers must prioritize buyer preferences and offer solutions that cater to diverse requirements.
Above all, quality should remain the top priority. Advertisers are focusing on premium inventory—trusted content that ensures brand safety and engages audiences. Transparency is equally crucial. Marketers need clear visibility into where their ads run to ensure alignment with campaign goals and audience targets. Advertisers should work with providers who can streamline media buying while offering both flexibility and transparency.
Let’s talk local. What advice do you have for local advertisers looking to make the most of streaming?
With viewers spread across multiple streaming TV platforms, local advertisers can no longer rely on just one or two services for effective reach. Partnering with a provider that spans platforms and services is key to reaching audiences at scale across the myriad of streaming services.
Local advertisers now have access to advanced audience targeting and measurement tools once reserved for national brands. They can also tap into premium CTV inventory, leveling the playing field regardless of budget size. To make the most of these opportunities, working with trusted local experts is a must for navigating market nuances.
For smaller advertisers with limited budgets, maximizing ad spend efficiency is a top priority. With precise targeting options—such as in-market shoppers, persona-based targeting, or custom audience creation—they can reduce waste and ensure their ads reach the right people, at the right time.
With targeting options getting more advanced, what’s the best approach for advertisers to achieve their goals?
CTV’s advanced targeting allows advertisers to create highly detailed audience personas based on behaviors, interests, and purchase intent. But while hyper-targeting is valuable, it doesn’t always deliver the scale that advertisers need. A broader approach can often be more effective, especially for reaching consumers who aren’t actively searching yet.
By expanding their strategy, advertisers can influence consumers earlier in their journey, building awareness and engagement before the purchase phase. For example, a mattress brand may find more success targeting health and wellness enthusiasts rather than only those in market to buy a mattress. This approach helps drive awareness and engagement at an earlier stage, leading to stronger results when consumers are ready to act.
What kind of measurement are your advertisers asking for to prove their campaign effectiveness?
CTV measurement has come a long way. Now, advertisers of all sizes and industries have access to powerful, full-funnel, and industry-specific measurement tools. We’re seeing that full-funnel CTV attribution isn’t just possible — it’s driving more investment from advertisers. CTV’s ability to bridge the gap between awareness and purchase, especially in the mid-funnel, makes it a key part of any effective campaign.
Advanced attribution tools can track important metrics like website visits, while brand lift studies help measure how ad exposure impacts consumer consideration and purchase intent. These insights into full-funnel performance help advertisers make smarter, data-driven decisions that guide consumers from awareness all the way to conversion.
What’s also clear is that more brands are tapping into first-party customer data for precision targeting and personalization. Knowing how custom audiences drive incremental reach, brand lift, website visits, and conversions will be key to getting the best results. With these advanced CTV measurement tools, advertisers can fine-tune their strategies and achieve even better campaign performance in the coming year.
How are you seeing the shift between streaming and linear TV buying unfolding?
As CTV and linear TV continue to converge, advertisers should adopt a total TV strategy to connect with today’s diverse and fragmented audience more effectively. With 98% of U.S. households reachable through this strategy, and 43% accessible only via streaming TV*, it’s clear that including CTV is essential. Without it, advertisers risk missing a significant portion of their audience and the opportunity to build meaningful connections.
Advanced measurement tools make this strategy even more powerful, giving advertisers insights into incremental reach and frequency across both CTV and linear TV. By tracking unduplicated reach, they can spot households missed by linear TV and fill those gaps with CTV. By blending the two, brands can maximize campaign impact, deepen engagement, and drive better ROI.
Finally, what are you most excited about for the year ahead?
I’m really excited about the growth opportunities and the continued innovation in the industry. Investing in our technology platform is a key focus for us, and with the acquisition of Octillion, we’ve turbocharged our ad tech capabilities. We’re looking forward to sharing more in the year ahead on our expanded offerings to help brands and advertisers simplify and achieve greater results in their CTV and omnichannel campaigns.
The trajectory of CTV advertising is also incredibly promising. With its ability to deliver full-funnel outcomes, more advertisers are tapping into the power of CTV. The availability of brand-safe, premium inventory, along with advanced targeting and measurement tools, is creating huge opportunities for advertisers to drive their businesses forward. There’s a lot to look forward to, and we’re excited to be at the forefront of these changes.
Download the free report: Streaming TV Trends & Outlook: The Streaming TV Playbook – Winning Strategies for Marketers in a Shifting Advertising Marketplace here.
*Source: *MRI-Simmons 2024 November Cord Evolution: © MRI-Simmons 2024. The data herein derives from a confidential, proprietary syndicated product owned by GfK US MRI, LLC.
