Innovid said that half of the video ad impressions serviced through its platform came in programming viewed on connected TV, the highest share ever, during the second quarter.
CTV impression volume was up 23% during the quarter, Innovid said.
"Innovid was founded on the premise that one day, the majority of TV content will be delivered through streaming channels," said Zvika Netter, co-founder and CEO of Innovid. "As seen with our CTV volume growth, that prediction is coming to life – driven by the ongoing migration of TV viewership not just toward CTV, but to ad-supported CTV as well – which is the foundation of our business."
The growth of CTV has followed the shift of consumers to streaming from traditional TV and the trend for streaming viewers to move from high cost subscription video services to lower-cost ad supported options.
This week The Walt Disney Co. said that it would be introducing the ad supported version of Disney Plus on December 8. Netflix will also be getting into the advertising business early next year.
"We believe a substantial share of streaming's future will be ad supported," added Netter. "As the CTV market matures and more and more TV media platforms are being added to the ecosystem on a regular basis, it reinforces our value proposition. The industry needs an independent scalable solution to integrate across platforms and partners, enabling brands to tap into the opportunity for enhanced reach, engagement, and performance through CTV advertising."
Innovid said that CTV accounted for 50% of all of Innovid's video impression volume served in the second quarter, up from 46% in Q2 of 2021, and CTV contributed 47% of total revenue in the second quarter, excluding TVSquared, which Innovid acquired in March.
Innovid's mobile video impressions increased 11% year-over-year and accounted for 38% of all video impression volume, while desktop decreased by 3% and accounted for 12% of video impressions served by Innovid. ■
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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.