{"id":7616,"date":"2024-05-16T18:26:53","date_gmt":"2024-05-16T18:26:53","guid":{"rendered":"https:\/\/tup.kxe.temporary.site\/3-reasons-why-digital-video-and-ctv-are-booming-in-2024\/"},"modified":"2024-05-16T18:26:53","modified_gmt":"2024-05-16T18:26:53","slug":"3-reasons-why-digital-video-and-ctv-are-booming-in-2024","status":"publish","type":"post","link":"https:\/\/okdesign.ca\/en\/3-reasons-why-digital-video-and-ctv-are-booming-in-2024\/","title":{"rendered":"3 reasons why digital video and CTV are booming in 2024"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>Video ad spend is expected <a rel=\"nofollow\" href=\"https:\/\/martech.org\/video-ad-spend-expected-to-rise-16-surpassing-linear-tv-this-year\/\">to rise 16% year-over-year in 2024<\/a>. Brands are interested because of the deep penetration that CTV and digital video have with U.S. households. Streaming services and other publishers are stepping up to bring more ad-supported options to consumers, along with better ad experiences.<\/p>\n<p><strong><em>Dig deeper: <a rel=\"nofollow noopener\" href=\"https:\/\/martech.org\/iab-newfronts-rings-in-the-age-of-digital-video-dominance\/\" target=\"_blank\">IAB NewFronts rings in the age of digital video dominance<\/a><\/em><\/strong><\/p>\n<p>Here are three key reasons behind this growth in digital video and the numbers behind them.<\/p>\n<p><!-- \/1038259\/MT_Post-text --><\/p>\n<h2 class=\"wp-block-heading\" id=\"h-ad-supported-ctv-is-widely-adopted-and-preferred-by-many\">Ad-supported CTV is widely adopted and preferred by many<\/h2>\n<p>CTV is an accepted part of many U.S. households. As of 2022, 93% of U.S. internet users <a rel=\"nofollow noopener\" href=\"https:\/\/lgads.tv\/resource\/us-ctv-report-the-big-shift\/\" target=\"_blank\">are reachable by CTV<\/a>. Since then, streaming services have introduced more subscription options as the ecosystem continues to evolve. Ads have become a bigger part of that ecosystem, and they\u2019re accepted by many viewers.<\/p>\n<p>At IAB NewFronts, LG AdSolutions shared that 80 percent of CTV watchers said they like ad-subsidized subscriptions. These consumers understand the value exchange \u2014 they pay less for entertainment and accept ads as the tradeoff. Sixty-nine percent said they prefer ad-supported CTV over other models.<\/p>\n<p>LG also shared how smart TV watchers decide what to watch. Here are the top 5 ways they decide:<\/p>\n<ul>\n<li>Recommendations from family and friends (44%)<\/li>\n<li>Homepage of streaming app (40%)<\/li>\n<li>TV home screen (39%)<\/li>\n<li>Social media ads (25%)<\/li>\n<li>TV commercials (23%)<\/li>\n<\/ul>\n<p>The smart TV hub or the streaming service homepage is a place where CTV viewers spend a lot of time. No wonder many services <a rel=\"nofollow noopener\" href=\"https:\/\/martech.org\/iab-newfronts-rings-in-the-age-of-digital-video-dominance\/\" target=\"_blank\">are integrating ads into these experiences<\/a>. Users spend an average of 11 minutes, and 38 seconds between turning on the TV and watching content, according to LG.<\/p>\n<p>Social media is a key channel (either from ads or recommendations from friends) for consumers to decide what to watch, as well as how to make decisions on purchases.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-cpg-and-retail-are-the-biggest-spending-and-fastest-growing-categories\">CPG and retail are the biggest-spending and fastest-growing categories<\/h2>\n<p>CPG and retail make up the biggest slices of digital video spend. And they\u2019re growing. CPG brands alone are projected to spend $12.6 billion on digital video in 2024, according to IAB\u2019s \u201c<a rel=\"nofollow noopener\" href=\"https:\/\/www.iab.com\/wp-content\/uploads\/2024\/04\/IAB_Video_Ad_Spend_Study_Part_1_April_2024.pdf\" target=\"_blank\">2024 Digital Ad Spend &amp; Strategy Report<\/a>.\u201d That\u2019s up 20% from 2023. And retail is growing even higher at 30% year-over-year, projected to reach $7.4 billion.<\/p>\n<figure class=\"wp-block-image size-large is-style-default\"><img data-recalc-dims=\"1\" fetchpriority=\"high\" fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"309\" alt=\"IAB Digital Video Categories\" class=\"wp-image-392634\" srcset=\"https:\/\/martech.org\/wp-content\/uploads\/2024\/05\/IAB-digital-video-categories-800x309.png.webp 800w,https:\/\/martech.org\/wp-content\/uploads\/2024\/05\/IAB-digital-video-categories-600x232.png.webp 600w,https:\/\/martech.org\/wp-content\/uploads\/2024\/05\/IAB-digital-video-categories-200x77.png.webp 200w,https:\/\/martech.org\/wp-content\/uploads\/2024\/05\/IAB-digital-video-categories-768x296.png.webp 768w,https:\/\/martech.org\/wp-content\/uploads\/2024\/05\/IAB-digital-video-categories.png.webp 990w\" data-lazy-sizes=\"(max-width: 800px) 100vw, 800px\" src=\"https:\/\/i0.wp.com\/martech.org\/wp-content\/uploads\/2024\/05\/IAB-digital-video-categories-800x309.png.webp?resize=800%2C309&#038;ssl=1\"\/><img data-recalc-dims=\"1\" fetchpriority=\"high\" fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"309\" src=\"https:\/\/i0.wp.com\/martech.org\/wp-content\/uploads\/2024\/05\/IAB-digital-video-categories-800x309.png.webp?resize=800%2C309&#038;ssl=1\" alt=\"IAB Digital Video Categories\" class=\"wp-image-392634\" srcset=\"https:\/\/martech.org\/wp-content\/uploads\/2024\/05\/IAB-digital-video-categories-800x309.png.webp 800w,https:\/\/martech.org\/wp-content\/uploads\/2024\/05\/IAB-digital-video-categories-600x232.png.webp 600w,https:\/\/martech.org\/wp-content\/uploads\/2024\/05\/IAB-digital-video-categories-200x77.png.webp 200w,https:\/\/martech.org\/wp-content\/uploads\/2024\/05\/IAB-digital-video-categories-768x296.png.webp 768w,https:\/\/martech.org\/wp-content\/uploads\/2024\/05\/IAB-digital-video-categories.png.webp 990w\" sizes=\"(max-width: 800px) 100vw, 800px\"\/><figcaption class=\"wp-element-caption\">Image: IAB, \u201c2024 Digital Ad Spend &amp; Strategy Report.\u201d<\/figcaption><\/figure>\n<p>CPG and retail advertisers depend on building awareness at the top of the funnel, spending billions on digital advertising to tap into, which has penetrated the vast majority of U.S. households.<\/p>\n<p>But of course, digital video isn\u2019t a \u201cspray and pray\u201d channel, it\u2019s measurable and addressable. One indication of CTV\u2019s and digital video\u2019s precision is the growth seen in targeted B2B campaigns. B2B brands\u2019 ad spend here is projected to climb 22% in 2024, exceeding $4 billion. To fill this need, <a rel=\"nofollow\" href=\"https:\/\/martech.org\/linkedin-introduces-ctv-ads-for-b2b-campaigns\/\">LinkedIn has added CTV to its ad offering<\/a>.<\/p>\n<p><strong><em>Dig deeper: <\/em><\/strong><a rel=\"nofollow noopener\" href=\"https:\/\/martech.org\/how-ctv-can-deliver-market-research-for-b2b-marketers\/\" target=\"_blank\"><strong><em>How CTV can deliver market research for B2B marketers<\/em><\/strong><\/a><\/p>\n<p>Marketers are expected to spend <a rel=\"nofollow noopener\" href=\"https:\/\/www.statista.com\/outlook\/amo\/advertising\/influencer-advertising\/worldwide\" target=\"_blank\">$35.09 billion globally<\/a> on influencer marketing in 2024. A quarter (26%) of marketers said they invested 40% or more of their marketing budget on influencers, <a rel=\"nofollow noopener\" href=\"https:\/\/www.statista.com\/statistics\/268641\/share-of-marketing-budgets-spent-on-digital-worldwide\/\" target=\"_blank\">according to Statista<\/a>.<\/p>\n<p>CTV is a key channel for amplifying influencer campaigns. Influencer marketing platform Influential is proving this out with its Influential 360 campaign tool, which measures and manages cross-channel campaigns.<\/p>\n<p>AT IAB NewFronts, CEO Ryan Detert unveiled a multi-channel campaign executed for QSR Whataburger that leveraged not only influencers on social but also CTV and digital out-of-home.<\/p>\n<hr\/>\n<hr\/>\n<p>\u201cThe right influencer, who\u2019s properly vetted, with the right content and the right trend can lead to real-world results,\u201d said Detert.<\/p>\n<p><!-- START INLINE FORM --><\/p>\n<p><!-- END INLINE FORM -->\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/martech.org\/3-reasons-why-digital-video-and-ctv-are-booming-in-2024\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Video ad spend is expected to rise 16% year-over-year in 2024. Brands are interested because of the deep penetration that CTV and digital video have with U.S. households. Streaming services and other publishers are stepping up to bring more ad-supported options to consumers, along with better ad experiences. Dig deeper: IAB NewFronts rings in the [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":7617,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-7616","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-agency"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>3 reasons why digital video and CTV are booming in 2024 - OK Design<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/okdesign.ca\/en\/3-reasons-why-digital-video-and-ctv-are-booming-in-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"3 reasons why digital video and CTV are booming in 2024\" \/>\n<meta property=\"og:description\" content=\"Video ad spend is expected to rise 16% year-over-year in 2024. Brands are interested because of the deep penetration that CTV and digital video have with U.S. households. Streaming services and other publishers are stepping up to bring more ad-supported options to consumers, along with better ad experiences. 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