More than half of US advertisers using CTV, OTT to increase spending
Investment and optimism for connected TV (CTV) advertising are high and continuing to rise fuelled by its ability to precision target and achieve full-funnel brand goals, says research released by Advertiser Perceptions and Premion, a premium provider of CTV/OTT advertising solutions.
The study calculated that more than 50% of advertisers using CTV/OTT will increase spending, with an average increase of 22%, and while two-thirds of advertisers were shifting budgets from digital, social and linear TV to fund CTV/OTT spend increases, 30% said that funding will come from an overall increase in ad budgets. Additionally, more than four in five advertisers believed that the value of CTV/OTT was greater than, or equal to, that of primetime TV, with two in five saying the channel is more valuable.
When considering performance, 43% of marketers noted CTV/OTT spend increases were being driven by the ability to achieve brand awareness and performance marketing goals. Precision audience targeting and extended reach for linear TV campaigns top the list of CTV advertising audience benefits. While reach and frequency, as well as driving brand lift and sales lift, are the top ad campaign metrics, many advertisers are still measuring CTV via website visits and impressions by network.
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