CTV advertising to become key as CTV reach exceeds 32 million households: Vdo.AI report

Vdo.AI has unveiled a CTV report that highlights that India is expected to become the third largest market by 2024 with CTV reaching more than 32 million households.The report believes that its key growth drivers are internet connectivity, Smart TV proliferation, content at affordable prices and changing viewing habits.

Connected TV is the preferred connection at 65%, comprising smart TVs, devices such as Firestick, and Internet-enabled set-top boxes versus 35% linear (cable and DTH). One of the greatest factors aiding in the surge in CTV advertising is the increased ownership of CTV at the household level. More and more people are becoming cord-cutters which opens a whole new opportunity for advertisers to avail and see an upliftment in their ROI.

Indian households spend over three hours daily watching content on their smart TV. 97% preferred to stream online content on TV around dinner time, and 74% of them watched the same with family, especially spouses and children.

The report also noted that CTV content is highly consumed on OTT at 41% while CTV consumption of news is just 10%.

The report found that 64% of viewers respond to ads on streaming platforms while 48% of users actively search for products after watching a CTV ad. 33% of viewers make a purchase following exposure to CTV ads, highlighting the substantial influence and effectiveness of this advertising medium in driving consumer actions.

The report predicted the integration of AI-powered recommendation engines, interactive content, and voice-based assistants is expected to become more prevalent, enhancing the overall user experience in the CTV space.

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