Consumer packaged goods (CPG) advertisers are turning to connected TV (CTV).
A study by Innovid found that CTV devices now account for more than half–52%-- of CPG advertisers’ digital video impressions, up from 44% in the company’s previous study. CTV now tops mobile devices (37%) and desktop (11%) in terms of impression delivery.
The CPG category most reliant on CTV was pet supply brand at 70%, followed by household cleaning and beauty, both at 62%, food (61%) and household goods (60%).
“Consumer behavior is changing at an unprecedented speed, and the rise in ecommerce has compelled CPG brands to reimagine their digital advertising strategy,” said Stephanie Geno, CMO, Innovid. “To meet consumers’ evolving shopping habits and build brand loyalty, CPG brands have turned to CTV for its ability to reach consumers with personalized, cutting-edge advertising formats in a largely unsaturated space.”
Most CTV ads from CPG brands use what Innovid terms advanced video, either interactive ads or commercials featuring QR codes.
"As the worlds of digital and linear television converge, CPG brands are realizing that CTV delivers the best of both worlds,” added Geno. “It provides captivating sight, sound, and motion that engages audiences, along with the targetability, interactivity, and measurability that allows advertisers to increase the ROI of their campaigns. We believe that CPG brands will continue increasing their presence on CTV, as they are empowered with these experiences and tools that can reinforce brand loyalty and attract new customers–all from the comfort of their couch.”
Innovid’s study was based on an analysis of more than 103 billion CPG video advertising impressions served on Innovid’s platform over the course of a year. ■
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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