80% increased converged TV ad spend year over
year
Report uncovers challenges and opportunities
within the converged TV landscape
NEW
YORK, Nov. 14, 2022 /PRNewswire/ -- Innovid
(NYSE: CTV), an independent advertising platform for delivery,
personalization, and measurement of converged TV, today announced
findings from its report, titled "The Great Unification of
Converged TV," which examines critical trends, challenges, and
opportunities within the fragmented converged TV landscape. The
report reveals 80% of respondents increased their converged TV
investments year over year. In addition, of the more than 250
senior brand and agency respondents polled in September 2022, nearly all (92%) said a unified
view of converged TV reach and performance across linear TV, CTV
and digital video is important.
"The TV experience is being reimagined," said Stephanie Geno, Chief Marketing Officer of
Innovid. "As content and consumption offerings evolve to meet the
needs of modern viewers, brands and agencies are challenged by a
fragmented media landscape – one that is no longer bound by time,
platforms, locations, or devices. To truly thrive in this
'converged TV' market – which encompasses linear, CTV, and digital
video – marketers need a unified view of advertising and audiences.
Not only to understand how cross-platform campaigns are really
working, but also to uncover actionable insights to reach and
engage with the right consumers where they are."
Key takeaways from the report include:
- Converged TV Spend Grows as the Video Mix Diversifies:
Nearly 45% of respondents allocated 20-40% of their total media ad
spend to converged TV, and 31% devoted 40-50%. With the increase in
converged TV ad spend, video mixes are diversifying. No longer
dedicating the majority of spend to one platform, respondents
illustrated a wide range of impression allocation across linear,
CTV, and digital video.
- Fragmentation Challenges in a Converged TV Market: When
asked to rank the top pain points around converged TV advertising,
"viewer fragmentation" was the top challenge (40%), followed by
"creative personalization" (37%) and "inconsistent measurement"
(32%).
- Components for Converged TV Success: When asked what's
needed for brands and agencies to improve the performance of
converged TV campaigns, 66% stated "consolidated technology" while
63% responded "unified measurement" to streamline and automate
delivery and measurement.
- Benefits of a Unified View: "Improved ad relevance" was
cited by 62% of respondents as a top benefit of having a unified
view of converged TV, driving deeper engagement by strengthening
cross-platform personalization and creative performance. A close
second, at 59%, was "increased data ownership," and having a wider
range of data access to measure relevant metrics.
"The time is now for advertisers to seek a unified view into
reach and performance through a consolidated tech platform that can
surface the actionable insights necessary to consistently inform
strategies and drive business impact," added Geno.
Innovid's complete, "The Great Unification of Converged TV"
report is available here.
About Innovid
Innovid (NYSE: CTV) powers advertising delivery,
personalization, measurement, and outcomes across linear, connected
TV (CTV) and digital for the world's largest brands. Through a
global infrastructure that enables cross-platform ad serving,
data-driven creative, and measurement, Innovid offers its clients
always-on intelligence to optimize advertising investment across
channels, platforms, screens, and devices. Innovid is an
independent platform that leads the market in converged TV
innovation, through proprietary technology and exclusive
partnerships designed to reimagine TV advertising. Headquartered in
New York City, Innovid serves a
global client base through offices across the Americas,
Europe, and Asia Pacific. To learn more, visit innovid.com
or follow us on LinkedIn or Twitter.
Press Contact
Chris
Harihar
Chris@crenshawcomm.com
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SOURCE Innovid