There is a monumental shift occurring in media consumption. As people stay home, marketers are looking for ways to get their messages to their customers — and to find new ones. Connected TV (CTV) & Over the Top (OTT) advertising are at the top of the list.
Connected TV refers to the televisions used to stream video content over the internet, such as smart TVs and devices connected to TVs (Roku stick, Apple TV, etc). Over-the-top media is the content streamed to any internet-enabled device. Examples include Hulu, Amazon, videos from online publishers.
Advertising opportunities are available on both CTV and OTT streaming media.
80% of US TV households now have at least one Connected TV device¹ .
CTV is on the rise, but there is a problem.
Reaching the right audiences can be difficult. In 2020, media consumption changed greatly. Nationwide, the habits of viewers shifted and the majority of cable/satellite television subscribers “cut the cord” and switched to CTV.
This trend is expected to continue into the new year. In 2021 approximately 48.3 million people will have switched over to CTV-only; a significant increase from 2016’s 26.9 million².
Video is the most powerful way to tell your story. As digital advertising continues to grow rapidly with CTV leading the charge, there are certain obstacles that many advertisers encounter along the way. Primarily the cost/price of CTV/OTT ads. 33% of advertisers/ marketers say that OTT ads are too expensive, preventing them from using these types of ads more³ .
Another issue with CTV and OTT ads is that they are prone to ad fraud. While Connected TV and OTT inventory demand is very strong, the supply of impressions is limited. This has created an opportunity for fraudulent scammers to trick advertisers into buying inventory that does not really exist.
So how can you effectively target real people without breaking the bank? Find out in our free, premium whitepaper below.
¹Leichtman Research Group (LRG)
² ³ eMarketer