What are the insights behind CTV’s ability to remain Canada’s most-watched broadcaster?
The “ctv growth 2021” is a prediction of how many people will be watching CTV in the year 2021.
If you’ve ever spent hours binge-watching a new season of your favorite TV show, it’s likely that a CTV (connected TV) was the gadget that kept you going all day. And if you weren’t watching on a cable or satellite TV set, you were probably among the majority of viewers.
However, there’s a lot more to CTV viewing and trends than just being part of the in-crowd. In reality, recent trends in TV viewing habits throughout the nation have transformed how businesses approach marketing.
Are you ready to use linked TV advertising as part of your omnichannel marketing strategy?
First, some background information.
Defined by CTV
Simply said, linked TVs are a cable substitute that enables you to stream digital video content to your home television. All a CTV needs to watch the latest episode of Big Little Lies is a high-speed internet connection, whether it’s integrated right into your smart TV or linked through a separate equipment like a Roku box or gaming console.
TVs with internet connections can be found almost everywhere. According to Leichtman Research Group, more than 80% of homes have one (or more) CTV equipment. Maybe you’ve had one from the beginning, or maybe you’ve had one right under your nose at home and didn’t realize it.
Whatever the case, here’s a short rundown of some of the most popular CTV devices:
- Apple TV
- Kindle Fire (Amazon)
OTT vs. CTV
Another phrase you should get acquainted with? Over-the-top media services are also known as OTTs. They’re sometimes confused with CTTs, although the two words aren’t interchangeable.
What’s the main distinction? OTTs may be seen on a variety of devices, including smartphones, tablets, laptops, smart TVs, gaming consoles, and personal computers—basically, anyplace with an internet connection.
CTVs, on the other hand, need a television set to function.
The following are some of the most popular OTT streaming services on the market:
- HBO Now
- Amazon Video (Amazon Prime Video)
CTV Ads Come in a Variety of Shapes and Sizes
CTVs provide many hours of at-home enjoyment on a personal level. They’re an advertising technique you may want to consider implementing into your omnichannel marketing plan from a business standpoint.
Let’s compare how they seem on a connected TV device to how they appear on a typical cable or satellite connection first.
Advertisements for linked televisions might take one of three forms:
- In-stream video advertisements — These commercials, which are typically unskippable, might appear before, during, or after the video content on a CTV is streamed. They usually last between 15 and 30 seconds.
- Ads on the home screen — Before watching a film or program, CTV viewers will go through the options on the home screen menu. Here are the commercials that appear on the home screen.
- Interactive commercials – These advertisements may show when video material is being streamed, but they will also have an interactive aspect. This allows viewers to interact with the advertising by going to a certain website or landing page.
Take a deeper look at the data surrounding CTV trends below if you’re thinking about expanding your company’s reach with a connected TV marketing plan. This will help you figure out how to best design your approach.
A Closer Look at the Data on CTV Viewership
CTV’s viewership is increasing and is anticipated to continue to do so in the future. But if you truly want to grasp how to make the most of this marketing channel, you’ll need to be more specific than that.
Here’s all you need to know about the viewership:
- According to a 2020 poll, approximately half of all American surveys employed a CTV on a weekly basis.
- According to data from the third quarter of 2020, the age group with the largest CTV viewing was 18 to 34 years old.
- The number of homes utilizing connected TV devices in the United States is expected to increase to 113 million by 2024, up from 105 million in 2020.
The figures above show the popularity of CTV viewing as well as the demographics of those that watch it. This useful data may provide marketers with the information they need to target their intended audience. It also provides them the assurance that they are investing ad money in a movement that has an unquestionably bright future.
Advertising habits are already showing hints of a paradigm change as a result of the growth in CTV watching. Take a look at the numbers below to see how the market has reacted to changing patterns.
- In 2021, 35% of media buyers expect to increase their ad expenditure on connected TV.
- Rather than linear TV, more than half of video advertising expenses will be spent on digital video (CTV or OTT) (cable or satellite).
- For 2021, over three-quarters of media buyers have already adjusted their budgets to include CTV advertising rather than broadcast TV.
- In a poll conducted in the United States, more than 80% of media buyers mentioned targeting and efficiency as the main reasons for migrating from conventional, linear TV commercials to OTT and CTV ads in 2021.
- Spending on linear TV advertising has declined by 14% over the previous year.
- CTV advertising spending in the United States is expected to reach $27.5 billion by 2025.
Translation? In the foreseeable future, CTV advertising does not seem to be going anywhere but up. Some media purchasers may have foreseen this trend before it began, while others are just now jumping on board.
CTV Advertising’s Advantages
You’ve undoubtedly figured that linked TV advertising has the ability to boost your marketing potential based on the stats alone. Let’s take a deeper look at the main advantages that this on-the-rise trend might provide to marketers:
- Access to new audiences — By customizing advertising for certain channels, marketing strategists may improve their campaigns. Companies looking to attract a younger population, for example, may find that airing their ads on a CTV rather than a standard linear TV yields a larger return.
- Improve audience insight – Having a greater grasp of not just who your target is, but also how they act, is another essential to marketing success. The more information you have about them, the more you can tailor their ad experience. You may learn more about who is already interested in your business and run a retargeting campaign to reach out to them. Alternatively, you may customize your adverts based on region, language, and peak activity periods of the day. The main benefit? Audience segmentation that is more precise and more cost-effective.
- Higher ad completion rates – After all, why spend money on ads that could go completely unnoticed? The extraordinarily high video completion rate is undoubtedly one of the most persuasive reasons to invest in linked TV advertising. In fact, according to a survey, 95 percent of CTV advertising will be viewed until the finish by 2020. What is the cause for such a high percentage? Most CTV advertising have an irresistible characteristic that can’t be skipped.
- CTVs may integrate information acquired from user IP addresses and viewing history to learn more about each individual viewer rather than a bigger, more generic group. Marketers may get particular insights on how many visitors visited your website, made a purchase, or even visited your brick-and-mortar store after seeing a CTV ad by using some of the data-tracking tools available with CTVs.
SagaReach Is Taking Advantage Of The CTV Trend.
Connected TVs are more than simply a cost-effective way to amuse yourself, your family, and your friends. It’s a marketing channel that, when utilized correctly, can help you raise brand recognition, target the ideal audience, and boost campaign conversion rates.
It’s time to switch from broadcast to connected television. Tune in to Power Digital’s professional advise to better educate your next actions and assist you in making the proper decisions as you ride the wave of this new advertising trend. For additional information about CTV, see our guides on ‘Cord nevers’ and ‘What are cord cutters?’
The number of people watching CTV is increasing. Take use of your marketing possibilities as well. Today, take your plan to the next level with our digital marketing services.
- The Public Interest. At least one smart TV is found in 80% of American households (Or Smart Something). https://nationalinterest.org/blog/techland/80-percent-us-households-have-least-one-smart-tv-or-smart-something-187418
- Statista. Weekly percentage of viewers viewing television through linked TV boxes in the United States from the fourth quarter of 2018 to the fourth quarter of 2020. https://www.statista.com/statistics/720015/tv-connected-device-reach/
- Statista. Time spent using connected TV devices on a daily basis in the United States, by age group, in the third quarter of 2020. https://www.statista.com/statistics/694336/tv-connected-devices-time-spent/
- Number of connected TV homes in the United States from 2017 to 2024, according to Statista. https://www.statista.com/statistics/304853/number-of-connected-tv-users-usa/
- Statista. Reasons for transferring media spending in the United States from linear TV to over-the-top (OTT) and/or connected TV (CTV) in 2021. https://www.statista.com/statistics/1227156/reasons-shift-media-budget-ott-ctv-usa/
- Connected TV (CTV) advertisement completion rates in North America from 2015 to 2020, according to Statista. https://www.statista.com/statistics/1240046/ctv-ad-completion-rates/
- Connected TV Advertising 2021: Prospects And Promises, Forbes. https://www.forbes.com/sites/howardhomonoff/2021/05/10/digital-video-advertising-2021-prospects-and-promises/?sh=401024413d5d
- According to the BIA, OTT advertising will double by 2025. https://www.tvtechnology.com/news/ott-advertising-to-double-by-2025-bia-says
- Statista. Spending on connected television advertising in the United States from 2019 to 2025. https://www.statista.com/statistics/1048897/connected-tv-ad-spend-usa/
Watch This Video-
CTV viewership and trends are analyzed by the “PDM”. PDM is a company that provides advertising services. They provide information on how much CTV viewers like different ads, which can help advertisers make more decisions about their ad campaigns. Reference: ctv advertising.
Frequently Asked Questions
How fast is CTV growing?
How big is the CTV market?
A: Canadas total trade was about $1.3 trillion in 2017, a sum that includes exports and imports of goods and services to other countries as well as domestic transactions within the country.
How many US households watch CTV?
A: In Canada, there are about 20 million households.
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