It’s no secret that television is undergoing a significant transformation, a fact underscored by this year’s headlines. For instance, Peacock’s exclusive streaming of an NFL playoff game attracted an unprecedented 23 million viewers. Disney is introducing shoppable ads, while Netflix has secured the rights to the most sought-after wrestling show in a landmark $5 billion agreement. Moreover, giants like Disney, Fox, and Warner Brothers Discovery have unveiled a collaborative initiative focusing on live sports, highlighting just a few developments from the first quarter alone.
Connected TV (CTV) has undeniably crossed a pivotal threshold. A notable 63% of marketers are now prioritizing CTV in their 2024 upfront purchases or are placing equal emphasis on streaming and traditional TV investments. Conversely, there’s a noticeable decrease in those exclusively focusing on traditional TV, with a 15% year-on-year decline.
The shift towards verified identity is proving to be a game-changer. As the industry moves away from cookies, CTV’s requirement for users to log in provides advertisers with a secure, authenticated platform. This is crucial, as a staggering 96% of advertisers consider verified user data to be key to their CTV strategies. This positions streaming platforms advantageously at a time when brands seek out engaged and verified audiences.
The spotlight this year is on streaming live sports. Advertisers are gravitating towards CTV for its secure, high-quality environment, with live sports being identified as a critical area for investment. Indeed, 49% of advertisers have upped their live sports spending on CTV, underscoring its importance.
The role of measurement in advertising has never been more critical. An impressive 94% of advertisers report that CTV either meets or surpasses their expectations for media mix modeling effectiveness, demonstrating its value in achieving both mid and lower-funnel marketing objectives.
These shifts in viewing habits are compelling advertisers to increase their CTV investments, with some even positioning CTV at the forefront of their TV strategies. Our research indicates that a whopping 95% of advertisers intend to either maintain or boost their programmatic CTV spending in 2024.
In conclusion, the transition towards CTV offers a myriad of opportunities for advertisers to connect with their audience in more meaningful and engaging ways. As the industry adapts to these changes, partnering with a knowledgeable and forward-thinking media company becomes crucial. Integrity Media stands at the forefront of this evolution, ready to guide brands through the complexities of CTV advertising. We invite those looking to leverage the full potential of CTV in their advertising strategies to contact Integrity Media. Together, we can navigate the new era of TV advertising, maximizing impact and driving results in this dynamic landscape.
