Better CTV Data Targeting Would Encourage Higher Ad Spend: Report
Some 47% of advertisers worldwide said high-quality data targeting would encourage a higher ad spend on connected TV (CTV), wrote Insider Intelligence analyst Sara Lebow Thursday, citing a Lotame study. Marketers are looking for a more efficient planning and buying…
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process and for “transparent measurement,” the report said. Other factors that would influence marketers to spend more on CTV ads are a more efficient buying process (36%), efficiency frequency capping (30%), transparent measurement (30%) and a connected ecosystem for greater scale (26%), said the report done by PureSpectrum Nov. 3. EMarketer projects U.S. CTV ad growth of 27.2% next year to $26.9 billion vs. 21% growth for retail media advertising and 8.8% for social network ad spending. People under 25 are more than a quarter of CTV users, Lebow said, and 90% of Gen Zers use the internet and TV simultaneously, “so advertisers can count on younger viewers being on two screens at once.” Next year, 230 million people in the U.S., 67.8%, will use a connected TV, rising to 70% by the end of 2026, she said: “Marketers are meeting TV viewers where they are.”