Ad impressions delivered by connected TV grow by 55% in the third quarter compared to the prior year, according to ad and analytics company Innovid.
In its fall 2020 U.S. Video Benchmarks Report, Innovid said the CTV’s share of video ad impressions jumped to 41% in the quarter from 33% a year ago.
“CTV’s massive 2020 surge in adoption by both viewers and advertisers has disrupted traditional strategies and forced everyone to reevaluate,” said Jessica Hogue, Innovid’s general manger for Measurement & Analytics.
“The onset of the coronavirus pandemic drove massive cord-cutting behavior, with advertisers following audiences. In April, even when marketers were grappling with budget cuts and changes to creative, Innovid saw a 22% year-over-year increase in CTV ad impressions while video declined overall by 14%,” Hogue said. “This growth only continued, with a 58% year-over-year increase in September.”
CTV completion rates were higher than mobile and desktop.
Innovid found that with its interactive ad formats, CTV is transforming television from an awareness channel to one that can also address performance.
Despite CTV’s explosive growth, mobile devices still delivered more impressions during the quarter, although its lead narrowed to just two share points. Mobile ads that were personalized or interactive grew relative to standard ad formats.
Those interactive ads were 14 times more engaging than the next most engaging ad type.
“CTV has now become table stakes for advertisers, many of which are finding themselves attempting to navigate a channel that, in many ways, is still just beginning to blossom. Brands, agencies and publishers should be laser-focused on how measurement, identity, interactive formats, and programmatic buying will develop over the next 12 months,” Hogue said. “As the first MRC-accredited company for OTT ad impression measurement, Innovid remains committed to shepherding brands through this rapidly changing streaming world.”
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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.