Reaching over-the-top viewers has become an important new strategy for advertisers, content owners and multichannel video service providers, according to a new survey from video ad service company SpotX.
The survey, conducted by Kagan, a division of S&P Global Market Intelligence, found that 100% of advertisers said the biggest change in their strategy was the result of changing viewing habits.
The survey’s advertising respondents said they expected higher return on investment on OTT, where they are able to use data and adopt audience-based buying.
Related: fuboTV Connects With SpotX For Programmatic Advertising
While only 11% of advertisers said they spend 21% to 40% of their ad dollars on OTT platforms now, looking ahead two years, 57% of advertisers expect to do so.
Among those advertisers, 44% said they expect to see an 11% to 20% increase in return on advertising spending by moving from traditional ad buying to audience-based buying, with 33% expecting a 6% to 10% increase.
Read more at broadcastingcable.com.
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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.