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Compared with other standard pre-roll ads, CTV advertising generates a sixfold increase in engagement
The COVID-19 pandemic is accelerating the shift to connected TV consumption. In fact, streaming video adoption has surged an estimated 60% as the world self-isolates, and we navigate a new reality.
But even before the coronavirus crisis, the industry was already witnessing an explosion in connected TV (CTV) viewership. Fans have cut the cord on expensive cable subscriptions and now watch their favorite shows on mobile devices or smart TVs, wherever and whenever they want. For marketers, CTV offers an attractive opportunity because of the data that enables precise targeting across digital channels alongside premium network-quality programming.
Last year, CTV ad spend approached $7 billion, a 38% increase, while U.S. viewership is expected to crack 200 million in 2021. While everyone is talking about COVID-19’s impact on CTV spend, the numbers were always poised to climb. Here’s why:
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CTV inventory is opening up. And while many of these services are subscription-based video-on-demand (SVOD), ad-based video-on-demand (AVOD) platforms also are exploding. New services, like NBCUniversal’s Peacock, for example, are expected to follow the ad-supported …
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