The pandemic is responsible for the sudden upsurge of CTV users, accumulating an estimate of 200 million CTV users monthly in 2021, and is expected to storm through 2022 and the following years. Obviously, this was rising for years, with cord cutting being a trending topic amongst consumers and businesses alike. As a result, CTV has encouraged various opportunities for advertisers and marketers by introducing CTV ads.
Since CTV can be enjoyed anywhere, everywhere if you have internet access, this is the perfect way to include ads but how?
We’ve mentioned CTV a few times now, but what does CTV stand for and what is CTV advertising?
CTV means connected TV and is any kind of television that is utilized by streaming a video using the internet such as Apple TV, Playstation, Xbox, Roku, and the like. CTV advertising, on the other hand, are any advertisements that are run on CTV devices. This allows the brand to penetrate the audience on smart TVs and OTT gadgets that are relevant to what they are viewing.
Well, since traditional cable advertising has been on the decline for years. The cable and TV Satellite companies have lost 25 million subscribers since 2012 and are expected to continue to hemorrhage. This means that television commercial space will be less coveted, and should decrease in cost, due to less users seeing the ads. Now, we may still see astronomical costs for events like the Olympics, Grammys, Superbowl, etc.
CTV ads offer immense possibilities worldwide for various businesses most especially for advertisers. According to Insider Intelligence, In 2021, US advertisers already spent $14.44 billion on CTV, an increase of almost 59.9% over 2020. Not only that but US citizens that are using CTV are believed to increase up to 113 million by 2024 this might be the perfect time to make the wise switch and advertise on CTV.
Still not enough reason to welcome CTV advertising? Then find out more below:
As mentioned above, a tremendous number of audiences are utilizing CTV meaning a lot of people spend more time watching streaming platforms. Since its popularity has been continuously increasing, you are assured that your CTV ads will never be stagnant or fall on a tiny audiences.
It is also a plus that most of the time CTVs are streamed on television, chances are, your CTV advertising will be viewed by the household rather than just one person, unlike web-based videos or apps like YouTube which are more commonly viewed on a personal device. This provides a greater opportunity to reach your target audience.
Compared to traditional tv, CTV advertising is versatile and economical when reaching prime networks. They also offer various ways to target audiences. The traditional TV ad usually had a network you could purchase on but didn’t really have a lot of control about who it was served to audience-wise or content-served within unless you increased your ad spend. New forms of CTV Ads, from CatapultX, allow for contextual targeting which help to match advertisers to content that may be related to their product or ides.
CTV Ads can use existing creatives from your database. CTV ads are the same format as your digital video ads or Facebook video ads, and CatapultX formats can use your logo, an image and a few lines of text; no video needed. CatapultX CTV ads are not intrusive making the viewing experience more natural than annoying. CTV advertising also has numerous methods to be presented that can either be engaging or interesting. This allows for a favourable return on investment.
CTV has no doubt opened various thrilling opportunities for businesses. CTV ads may only be successful if you are partnered with the right smart tools that will generate more revenue from your videos or ROI on your video ads, and that is what CatapultX provides. They help you dominate the cookieless world with their brandsafe, non-intrusive formats. They are committed to altering the video advertising landscape as we know it!
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