More than Half of Advertisers Using CTV/OTT Will Increase Spending, According to New 2022 CTV/OTT Advertiser Survey
Rising Investment in CTV Advertising Fueled by its Ability to Precision Target and Achieve Full-funnel Objectives
More than half of advertisers using CTV/OTT will increase spending, with an average increase of 22%, according to a new 2022 CTV/OTT Advertiser Survey released by Advertiser Perceptions and Premion, the leading premium CTV/OTT advertising solution for regional and local advertisers.
The survey reveals that investment and optimism for CTV advertising are already high and continuing to rise fueled by its ability to precision target and achieve full-funnel brand goals. The report finds that 66% of advertisers are shifting budgets from digital, social and linear TV to fund CTV/OTT spend increases, while 30% say that funding will come from an overall increase in ad budgets. Additionally, more than four in five advertisers believe that the value of Connected TV/OTT is greater than, or equal to, that of primetime TV, with two in five saying the channel is more valuable.
“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 Tom Cox, President of Premion. “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 behaviors and to connect viewership to direct business results.”
Read more on MarTech Series here.