Americans are starting to plan vacation travel and a new study by Magnite, the sell-side ad platform, finds that connected TV advertising is more effective at influencing travel choices than traditional TV.
In a report titled The Great Escape, Magnite said that 84% of the people it surveyed are optimistic they’ll be able to travel safely in the near future and 83% are planning trips for the summer and fall.
As those vacation plans are being made, 56% of respondents said they are more likely to consider a travel brand advertised on CTV than one on traditional television. The same 56% said travel ads on CTV are a key source of inspiration, information and ideas about vacationing.
CTV commercials tended to spur consumer activity, with 65% of the survey respondents saying they visited an advertiser’s website after seeing a travel ad on CTV, and 74% took two or more actions after seeing brands on CTV, including discussing the ad with someone or conducting additional research.
“Our research shows that a vacation travel resurgence is coming, and many Americans are finally feeling safe enough to fly and stay in hotels,” said Adam Lowy, head of North American CTV demand sales and strategy at Magnite. “What’s more, people are actively planning their trips now, and they were clear that they are influenced by travel ads streamed on connected TVs, often more than those on traditional television, and they’re highly likely to drive them to take action. When you consider that according to eMarketer, more than a third of Americans are unreachable via traditional television, the study shows how CTV should be a key part of every travel advertiser’s media plans.”
The survey also found that ad receptivity correlates to content quality, with 69% of respondents saying they are open to watching ads on streaming TV because they are getting access to high-quality TV shows and films.
Digital video ads also help people discover places to go and things to do. The survey found that 74% of respondents said digital video ads have allowed them to learn about travel opportunities they probably would not have known about otherwise.
Magnite’s study was conducted online by Lucid, with 903 travel decision makers interviewed who plan to take a trip within the next 12 months and subscribe to or share at least one streaming service. The survey was conducted from March 12 to March 17.
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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.
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