Two thirds of CTV/OTT advertisers to increase spending

As many as two in three advertisers using connected TV (CTV) and over-the-top (OTT) services will increase spending, with an average increase of 23%, according to research from Premion.

The CTV/OTT Advertiser Survey was based an anonymous online survey in March 2023 among 151 ad agency or brand-side marketers involved in advertising strategy or budgeting decisions, media planning or buying, or vendor selection for CTV/OTT advertising. Connected TV/OTT advertising use was required for both 2022 and 2023.

The data showed that investment and optimism for CTV/OTT advertising remain high and increasing expenditure is being driven by the ability to capture declining TV audiences (46%), provide the benefits of TV with digital capabilities (44%), and the ability to achieve full-funnel objectives (39%).

Three-quarters of CTV/OTT advertisers view CTV/OTT advertising as an extension of their linear TV strategy — and two out of three advertisers agree that combining linear TV with CTV/OTT advertising increases brand awareness and improves overall ROI performance throughout the entire marketing funnel.

Read more on Rapid TV News here.