The future is bright for Connected TV (CTV). Fast-becoming the go-to preference for viewers across demographics, CTV’s steady growth amidst a global pandemic has shifted how and where marketers are targeting their audiences.
CTV’s shift from a peripheral player to the lead role for advertisers can be attributed to its significant growth in 2020 and its continued preference by all audience age groups. In 2020, eMarketer reported 206.2 million people in the U.S were viewing CTV content. The report takes note of the fact that people often watch CTV content across multiple devices and it’s common practice in a single household to include multiple smart TVs. Access to audiences across demographics and interests has never been so dynamic and highly targetable.
A looming question around these numbers and the excitement around CTV is – how can brands of all shapes and sizes take their piece of the digital advertising pie? In this article, we’re sharing how audience content consumption has changed over the past year to bolster CTV’s dominance over the content landscape, what this means for digital advertising and how marketers can get in on the action with key AVOD platforms like YouTube.
Connected TV and Digital Advertising
How does cord-cutting behavior translate to digital advertising? Tangibly, digital video revenue which includes CTV saw a 21% increase from the previous year to $26 billion in 2020, while linear TV ad revenues experienced a 12% decline.
Audience preferences for a multiplatform experience across both AVOD and SVOD content has ultimately transformed advertising strategy. With the rise of CTV, marketers have shifted from a content-first approach to an audience-first strategy.
BBTV takes a different approach to delivering audiences. While the platforms deliver baskets of impressions against their CTV audience, BBTV’s Ad Solutions team focuses on providing context to our CTV video inventory by delivering media plans that are either verticalized or customized programming packages that are aligned with the advertisers content targets and audience targets.
Alongside the benefits of deeper targeting and more accurate measurements that come with digital marketing, advertisers are feeling the impact of multi-channel digital campaigns that follow audiences wherever they view their favorite content .
While linear TV isn’t going away anytime soon, advertisers are benefiting from a seamless and holistic advertising approach that hits target audiences everywhere they consume content.
This strategy is made more possible and easier with CTV, allowing audiences to flip between linear, SVOD, and AVOD platforms to get a full entertainment experience.
The 2021 CTV Landscape
If 2020 taught us anything, it’s that there is no such thing as too much content. The rise of streaming platforms like Disney+, Peacock, and HBO Max alongside an increase in key events moving to CTV, has seen more powerhouse brands taking up available digital ad spend against this coveted content. However, 2020’s standstill in traditional content proved to advertisers that AVOD platforms, specifically YouTube, are ideal candidates for continuous content as well as flexible strategies that allow for on-the-fly pivots in ad spend and campaign messaging.
Given the multi-platform viewing habits of cordcutters, there is a unique opportunity for brands – of every size – to take advantage of AVOD platforms, like YouTube, that are central to CTV.
Marketers can tap into the same audiences tuning into their favorite sporting events, award season, and popular TV shows through YouTube creators providing supplementary content that generate buzz, discussion, and are ultimately unrivaled in their influence.
With access to BBTV’s massive creator network, marketers can connect with the most coveted GenZ and Millennial audiences in the world. Combining scalable ad solutions with the creators that audiences love, BBTV offers ad solutions alongside the stories that matter most.
Get in touch with BBTV’s Ad Sales team for more information on how your next campaign can capture your target audiences across platforms like YouTube.