Marketsmith Inc.

CTV: THE FUTURE OF TV ADS

As we progress into 2024, the landscape of Connected TV (CTV) advertising not only continues to flourish but also stands at the cusp of transformative growth. With global revenues now soaring past the $25 billion mark, the surge of CTV is propelled by its unparalleled appeal, targeting precision, and cost-effectiveness. Looking ahead, it's projected that CTV advertising spend will vault over $42 billion by 2028, highlighting its growing prominence in the digital era.


The Evolution of Television Advertising

The narrative of television advertising is being rewritten by CTV. Historically, TV ads were about casting a wide net, aiming to capture as broad an audience as possible. However, CTV has shifted this paradigm, offering advertisers a tool that blends the visual impact of traditional TV with the nimbleness and targeting acumen of digital platforms. This seismic shift saw advertisers dedicating substantial portions of their budgets to CTV, underscoring its growing significance.

CTV breaks down barriers, democratizing access to television advertising by enabling brands, regardless of their size, to engage with their target audiences in a more direct and personalized manner. This is a game-changer, especially for smaller brands that previously found the cost of entry into TV advertising prohibitively high.

Targeting: The Heart of CTV's Appeal

The core strength of CTV lies in its targeting capabilities. Advertisers can now tailor their messages to specific segments of the audience, leveraging data on demographics, interests, and behaviors. This precision in targeting is what sets CTV apart, ensuring that ads are not just broadcast indiscriminately but are shown to viewers with a genuine interest or need for the product or service being advertised.


Performance Television: A New Frontier

Performance television has emerged as a strategic pivot in CTV advertising, blending the persuasive power of video with the accountability and measurability of digital advertising. It offers advertisers the ability to track the effectiveness of their campaigns in real-time, adjust strategies on the fly, and directly link advertising efforts with outcomes like website traffic, conversions, and sales.

The Rise of Ad-Supported CTV

A significant driver of CTV's growth is the rising tide of ad-supported viewing options. As subscription fatigue sets in and viewers seek out free or lower-cost content options, ad-supported channels are gaining traction. This shift is not just a passing trend but a fundamental change in how viewers engage with content and, by extension, how advertisers reach their audiences.


Looking Ahead: Key Trends in CTV for 2024

As we navigate through 2024, several trends are poised to shape the CTV advertising landscape:
  • Programmatic Buying: The move towards programmatic ad buying underscores the shift towards more efficient, targeted, and performance-driven advertising strategies.
  • Cross-Channel Integration: The integration of CTV within broader, omnichannel campaigns will become increasingly important, enabling advertisers to craft cohesive and unified marketing messages across platforms.
  • Interactivity and Shoppability: With advancements in technology, CTV ads are set to become more interactive and shoppable, further blurring the lines between advertising and direct commerce.

Conclusion

The trajectory of CTV advertising is clear: it's not just growing; it's evolving at a pace that demands attention from advertisers across the spectrum. 

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The shift towards targeted, performance-driven advertising, the embrace of ad-supported content, and the integration of CTV into omnichannel strategies are all indicative of a platform that's moving from strength to strength. As 2024 unfolds, the opportunities within CTV advertising are ripe for the taking, offering brands a unique blend of reach, relevance, and resonance.



CTV Impact:
NJ Department of Human Services Naloxone Campaign

MSI recently leveraged CTV as a primary component of our Naloxone campaign. This campaign, run with the New Jersey Department of Human services, is designed to raise awareness to the general New Jersey public about the widespread distribution of Naloxone to pharmacies at no cost and without a prescription 

CTV garnered over 6.8 million impressions throughout the state. Most impressively, it did so with 0 wasted impressions spilling into the surrounding NYC and Philly markets as would typically occur with a terrestrial TV campaign.

The impressive targeting capabilities of CTV allowed us to not only hyper target our core demographics but also allowed the campaign to focus on specific counties in the state where the messaging would have the greatest impact.