06 Apr TrendSet: Due to increased cord cutting sights are set on CTV
Your audience is leaned back in their ez-chair or cozily seated on their couch, and your ad is ready for the big screen.
Due to cord cutting becoming increasingly prominent as the years go by, the more immersive and relaxed setting of connected TV is an excellent place to enhance the video experience and connect with viewers.
More and more consumers are disconnecting from traditional linear TV options and turning to streaming content instead, which is driving the connected TV phenomenon.
When the pandemic gripped the world, people were forced to spend more time at home, so CTV adoption soared to new heights; what was once a “nice-to-have” programmatic channel is now unquestionably a “need-to-have.” As of 2021, programmatic penetration of CTV reached 70%, and it is expected to surpass 78% by 2023.
The CTV industry, while clearly growing, faces some obstacles. Unlike mobile apps, where the vast majority of inventory is available across just two operating systems – iOS and Android – the CTV market is much more fragmented.
Streaming sticks (Apple TV, Fire TV, Chromecast, Roku, Android TV), games consoles (PlayStation, Xbox), and smart TVs (Samsung, LG, and others), all have different standards and advertising capabilities which makes for a much more fractured channel and space.
CTV programmatic has a lot of potential when it comes to 2022 and beyond, but advertisers should carefully consider where they are serving their ads and what devices to embrace to maximize success.
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