With traditional linear TV viewing down, 42% of advertisers plan to increase spending on streaming, according to a study by Advertiser Perceptions.
Top executives will discuss over-the-top video, addressability and advanced targeting at the Advanced Advertising Summit, starting April 27 and part of the Future Spring TV 2021 week of virtual events.
The average increase in spending on streaming was 15%, according to the study, which found that 36% of advertisers plan to invest more in virtual MVPDs and 25% will spend more on addressable linear TV. Just 19% are expected to spend more on linear TV.
“One of the most important narratives of 2020 was the mass adoption of streaming,” Justin Fromm, executive VP of business intelligence at Advertiser Perceptions, said. “The more traditional TV brands expand in the streaming space, the more advertisers pick up on the signal.”
Advertiser Perceptions found that 48% of advertisers are buying OTT and connected TV programmatically. The top benefits of buying programmatic OTT and CTV were the ability to target and add reach to campaigns.
“Reach is the primary headwind for those selling CTV/OTT inventory,” said Fromm. “While addressable campaigns are efficient, most brands have a hard time finding enough of their target audience in one place.”
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
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