Rising Star Awards 2023- Winners

Best Media Info

Special
Interviews
Events
Misc
Partner Content
BuzzInContent

Cost and creative readiness stand out as primary hurdles in CTV advertising space

With CTV households in India projected to grow to 100 million, ad spends on CTV are expected to touch $400 million by 2027 at a CAGR of 45%, mentioned dentsu’s latest Indian ad spends report quoting MiQ data

Advertisers are expected to allocate more resources to engage their audiences in these evolved environments, leading to increased investments in CTV advertising.

59% of Indian brands and agencies anticipate a rise in their CTV ad spends over the next 12 to 24 months, according to a MiQ research report.

With CTV households in India projected to grow to 100 million, ad spends on CTV are expected to touch $400 million by 2027 at a CAGR of 45%, mentioned dentsu’s latest Indian ad spends report quoting MiQ data.

Dentsu report also quoted Teads' research, which indicated that the Return on Investment (ROI) in CTV advertising significantly outshines that of linear TV. “An impressive 70% of advertisers reported experiencing a 'much better' or 'slightly better' ROI compared to traditional TV advertising,” it shared.

74% of CTV advertisers measure the success of their campaigns through reach/frequency towards the intended target audience.

Having said that, advertisers cite cost and creative readiness as their biggest challenges when planning and executing a CTV campaign. “Only 15% of the respondents who have executed CTV ad campaigns consider themselves a CTV ‘expert’,” stated the report.

Advertisers can optimise their campaigns in real-time by utilising data-driven insights, which isn’t possible on linear TV. “Advertisers need to focus on retargeting their CTV audience on mobile devices and deploy competitive conquesting strategy to maximise the impact of their video campaigns,” emphasised MiQ in the report.

Streaming partners are playing a crucial role in the competition for broadcasting rights, and brands are now leveraging programmatic targeting, data-driven insights as well as dynamic and interactive ad insertions to deliver personalized and impactful advertisements.

Anil Jayaraj, CEO, Viacom18 Sports, commented in the dentsu report, “JioCinema's readiness to cater to these preferences signifies a technological readiness to provide 200 Mn+ viewers on CTV and 50 Mn+ viewers on the 4K feed with the best possible visual experience, underscoring the platform's commitment to staying ahead in the technological curve.”

Viewership insights from India reveal:

  • 56% of consumers use a second screen frequently when streaming videos or watching TV.
  • 42% of consumers claim that cost is a bigger consideration on streaming platforms than content.
  • 37% of viewers would consider a cheaper ad-supported streaming (AVOD) platform.

Info@BestMediaInfo.com

Advertisment
Post a Comment