Connected TV continues to grow and is fueling more engaging forms of video advertising, according to a new report from Innovid.
CTV impressions grew in 2019, and the category now controls 31% of OTT video advertising (see chart).
But that growth has only been accelerated by the coronavirus crisis. From March 15 to April 5, Innovid saw a 71% increase in CTV ad volume.
Innovid said that the events in the first part of 2020 don’t change the dynamics it saw in 2019, but may make the need for innovation more urgent.
For 2019, CTV impressions grew 67%. More importantly, the engagement of ad units on CTV surpassed mobile. Interactive ad unit impressions were up 105%.
While TV has always proved its ability to drive reach, CTV interactive ads open the door to new opportunities for engagement as well,” the report said.
Advanced ad formats had a 35% higher engagement rate than standard pre-roll ads, with geo-targeting and sequential messaging being the most common tactics for personalization.
“When it comes to advanced creative, a little goes a long way. Luckily, advancements in data accessibility and automation have made implementation much easier, allowing brands to scale these experiences,” the report said.
The study found that 57% of the ads were 15-second long. When advertisers chose to go with interactive format, 17% of those ads were 30 seconds long.
“Now, more than ever, it’s important for brands to adapt and pivot their strategies to reach consumers in personalized, compelling ways,” said Zvika Netter, CEO and co-founder, Innovid. “As we enter this new era of personalization, our research shows that advertisers are embracing advanced creative as a major part of their omnichannel marketing strategies to remain nimble, effective, and in tune with their consumers’ behavior. This is the moment for advertisers to be bold in their choices and consider how they will personalize, deliver, and measure performance across all channels with CTV at the center.”
The Innovid Benchmark Report was based on activity by more than 600 advertisers and 200 billion video impressions served on Innovid’s platform during 2019.
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