The Rise of Connected TVs in 2024
Why are brands embracing CTV?
In the ever-evolving landscape of television, a seismic shift is underway, underscored by monumental events like the historic NFL playoff game exclusively streamed to a record-breaking 23 million viewers. This pivotal moment signifies the dawn of a new era, where traditional TV meets the boundless potential of Connected TVs (CTV). As the industry tilts further towards CTV, it’s imperative to explore why brands are not just embracing, but prioritizing CTV ads in their strategies.
The Driving Forces Behind the CTV Revolution
The data speaks volumes: a staggering 73% of Americans are gravitating towards streaming platforms due to the abundance of their favorite content on CTV. This behavioral shift among viewers is catalyzing a parallel movement among advertisers, with 95% planning to either maintain or increase their investment in programmatic CTV within the next year. Projections from eMarketer/Insider Intelligence indicate a future where ad-supported video-on-demand (AVOD) viewers will double pay-TV viewers by 2027, showcasing the undeniable allure of CTV advertising.
Harnessing the Power of Verified Identity
In a world increasingly wary of data privacy concerns, the importance of verified user data cannot be overstated. CTV emerges as a beacon of trust, offering advertisers a logged-in, authenticated channel where 96% prioritize verified user data in shaping their strategies. This level of engagement and authentication is a coveted asset in an era where audience trust is paramount.
Measuring matters more than ever
In an era defined by data-driven decision-making, CTV’s advanced measurement capabilities stand out as a beacon of clarity for advertisers. With 72% recognizing CTV’s potential to drive tangible business outcomes, and over half citing its effectiveness in delivering ROI, the allure of CTV as a measurable and impactful advertising medium is undeniable.
This is the year of streaming live sports
Advertisers and consumers alike view CTV as a source of quality content, providing brand-safe and premium, professionally produced programs that they can rely on — with live sports proving to be the surest bet yet. In fact, 90% of advertisers plan to maintain or increase their budget for programmatic live sports in 2024, while about half (49%) report that they will spend more on live sports than last year, surpassing the percentage of advertisers who plan to spend more on linear sports.
Benefits reported by live sports advertisers
-76% highlight its ability to reach engaged audiences
-67% rank sports as brand safe
-64% emphasize effectiveness in reaching their target audience
Streann’s AI-Powered Solutions Leading the Way
Inside-Ad is a cutting-edge technology revolutionizing targeted advertising in the era of AVOD and Connected TVs. Utilizing advanced data analytics and machine learning, Inside-Ad delivers personalized ads to viewers without disrupting their viewing experience. By seamlessly integrating ads into content, it ensures high user satisfaction and boosts advertising campaign effectiveness. Brands can reach genuinely interested audiences, leading to remarkable conversion results, with OTT platforms potentially seeing returns on investment of up to 350%.
The Road Ahead: Leveraging Retail Data
Looking towards the horizon, the integration of shopper data into the CTV landscape heralds a new frontier in targeted advertising. With 91% of advertisers poised to increase their investment in retail data, the potential to leverage transactional insights on the biggest screen in the home presents a tantalizing opportunity for advertisers to unlock new levels of relevance and impact.
In essence, the exponential growth of Connected TVs in 2024 isn’t just a trend — it’s a paradigm shift reshaping the very fabric of television advertising. As brands embrace this evolution, they unlock a world of possibilities, where precision, engagement, and efficacy converge to redefine the art of advertising in the digital age.
Interested in learning more? Reach out to schedule a meeting and discover how Streann can revolutionize and transform your customers’ content engagement experience. Let’s collaborate to shape the future of content together!
