CTV Ad Spend Reaches $1B
Here’s what you need to know about trending developments in CTV and marketing
In the first half of 2023, CTV ad spending hit $1 billion, per Vivvix, Kantar Group’s tracking unit. CEO Andrew Feigenson said it validates CTV’s shift from experimental to mainstream. Vivvix noted that 70% of ad spending was on digital formats, with video growing the fastest. With massive industry changes courtesy of post-pandemic behavior shifts and the advent of generative AI, successful marketers need to study up in order to stay ahead. Catch up on the latest events and research driving the CTV and marketing fields. Let’s dive in.
Connected TV Viewing Cuts Into Mobile’s Dominance Over US Screen Time
eMarketer
US adults are spending less time on mobile screens, while CTV is emerging as a significant competitor, reports Insider Intelligence’s eMarketer analysis. By 2025, expect viewers to spend more than 130 minutes per day with connected TV platforms and services.
Majority of Canadian Consumers Likely to Engage with Enhanced Connected TV Ad Formats
LG Ad Solutions via Business Wire
We know connected TV offers potent new ways to engage with consumers, but how are the people watching CTV advertising responding? According to LG Ad Solutions, 84% of Canadian viewers said they like the type of enhanced ads brands can deploy on CTV. Additionally, more than half reported engaging with them. Location-based enhanced ads resonated particularly well, with 78% of respondents saying they like ads that provide the closest store locations.
Marketing Insights
Think Pink: Lessons Learned From the Barbie Marketing Team
CMSWire
As Google revises its own approach to advertising privacy and measurement in a post-IDFA world, the company has shared a new marketing playbook. It’s targeted toward addressing consumer privacy expectations as well as impending regulations, and it points to first-party data as a key new way to build relationships.
How the Pandemic Changed Marketing Channels
Harvard Business Review
The combined forces of inflation and rising cost of living are causing more marketers to focus on performance marketing, according to a recent survey. The survey indicates that 11.8% of marketers now center performance-driven marketing in their plans, compared to 8.6% last year. Pressure from leadership to hit targets was cited as a primary reason for the shift by 45.2% of respondents.
How Today’s Top Marketing Leaders Are Approaching AI
Forbes
It cannot be denied: Artificial intelligence (AI) is shaking up the world of marketing, whether it’s being used to draft copy for websites or combing through data to measure KPIs. It’s a time of uncertainty and excitement, anxiety and opportunity. Before you plug in, be sure to read what industry leaders think and how best to deploy and utilize this powerful tool.
Alpha Digital’s Performance Based CTV/OTT focuses on driving specific actions or outcomes, such as website visits, app installs, form submissions, or product purchases. Unlike traditional CTV advertising, which primarily aims to build brand awareness and engagement, Performance Based CTV/OTT is designed to deliver measurable and trackable results. To learn more about Performance Based CTV/OTT, reach out today to speak to one of our Digital Marketing Consultants. Let’s explore how we can help you reach your KPIs.
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