Redefining What Matters In Streaming TV Advertising
by 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.