BIA Advisory Services and Premion explore pandemic induced changes in the local ad market for streaming TV, as well as look ahead to trends to forecast 2021-2022 ad spending in the report, A Marketer’s Guide: The New Rules Ahead for Streaming TV Advertising, which is now available for download.
The goal of the report is to help advertisers navigate the increasingly fragmented and complex OTT (Over-The-Top) marketplace and provide insights for effective planning, buying and measurement of streaming TV advertising.
As the report explains, with the rapid growth in streaming audiences, advertisers are re-adjusting their media mix to shift bigger budgets to CTV advertising, and thus will begin to close the gap between Connected TV (CTV) viewership and ad spending.
OTT TV viewing and ad-spending primarily is concentrated in the CTV portion of this marketplace. Viewing on PCs, laptops, tablets and mobile makes up the rest of the market. BIA forecasts that local ad spending in OTT will exceed $1.3 billion in 2021 and nearly double to $2.4 billion by 2025.
The report breaks out spending for several key business verticals including Auto, QSR and Healthcare. It examines how the addressability of CTV enables these advertisers to target local audiences at scale and examines targeting by designated market area (DMA), states, and zip codes and how all of this can be combined with geo-targeting of behavior or interest categories.
With addressable targeting, viewer data is captured and analyzed into audience segments, such as auto intenders, and applied to campaigns. Brands can also adapt, tailor and easily swap out their messages and creative to communicate how they’re serving their local customers differently while personalizing a relevant advertising experience.
The report also examines how CTV is a great alternative to mobile and offers richer audience insights that are invaluable for advertisers to find and reach qualified audiences, all while being unaffected by the recent consumer privacy changes and cookie constraints.
Ad dollars follow where the consumers are. As such, the stage is set for marketers to shift even bigger budgets to CTV as an integral media mix for driving brand awareness and performance marketing.
Continue this discussion and download the complimentary report here: A Marketer’s Guide: The New Rules Ahead for Streaming TV Advertising.