We’ve entered into a new era of entertainment. Gone are the days of channel surfing, hoping to find something to match our mood. There’s so much content, old and new, you can watch anything you have an appetite for. Through OTT (over-the-top) platforms, the VOD (video-on-demand) industry has taken off. Thus, the rapid proliferation of streaming services, including everything from the heavy-hitting, genre-spanning goliaths to their more limited and more niche cousins.
The SVOD (subscription-supported video-on-demand) model seemed to have a monolithic hold on the market (think Netflix, HBO Max or Disney+) with obvious exceptions like YouTube. But this oversaturation of SVOD services has been leading to a phenomenon known as “subscription fatigue”. Enter AVOD (advertisement-supported video-on-demand). AVOD channels have seen increased viewership in the last several years, as more people are streaming but don’t want to keep adding new subscription services to their bank statement every month.
This development in consumer behavior has opened a world of opportunity for agencies and media buying outfits, specifically through CTV or Connected Television.
What Is CTV?
CTV is any long-form OTT content streamed on a connected device. Utilizing smart TVs and other OTT-enabled devices like streaming sticks or gaming consoles, CTV can deliver personalized ads designed to reach the very person sitting in front of the television, minimizing wasted impressions. In other words, CTV ads offer “the precision of digital with the impact of TV.”
Why Is CTV Advertising Important?
CTV is growing, and rapidly. According to Adweek, “Connected TV saw its highest gains to date in 2020 ad spend. Advertisers spent an average of $20 million on CTV.” And CTV continues to grow. The total spend in the industry is projected to be over $13 billion in 2021 and $17 billion in 2022.
CTV spend was already seeing growth before 2020 and the pandemic, but the stay-at-home orders seemed to electrify its already startling growth. More people are streaming and there are more streaming platforms than ever. AdExchanger states that by 2023, over 80% of all Americans are projected to have at least one CTV device. Over 80% of all Americans with Wi-Fi already have at least one CTV device (Simpli.fi).
CTV represents a goldrush in the ad industry and an incredible opportunity for agencies and media buying groups.
How to Optimize Your CTV Spends
Advantage Software and our parent company, Simpli.fi, have made it easier than ever to get the most out of this goldrush.
Through the Advantage Media planning/buying software, you can easily plan and execute the ad buys you need to drive performance. Our Media planning module now includes five preloaded digital media buying templates designed by the experts at Simpli.fi. Want to run a video-focused campaign but don’t know how much to allocate to which tactic? Simpli.fi has designed a template that will allocate the appropriate amount of your budget to the most effective digital video-related media buying tactics. Through this template, you can effortlessly capitalize on CTV and other emerging video trends.
Simpli.fi leads the industry in programmatic ad buying, utilizing the entire digital spectrum of tactics. Their data-driven buying puts unstructured data and a wide variety of digital breadcrumbs to use, optimizing your campaign, locally or nationally. This means the CTV ads you serve through Simpli.fi will end up on the screens of the most relevant audience possible.
And with Advantage, programmatic buying through Simpli.fi is easy, intuitive and effective.
Learn More About Advantage Media Buying & Planning
Advantage is the only true all-in-one solution purpose-built for agencies and creative teams of all sizes. The system covers everything from Project and Production Management, Finance and Accounting, Time and Expense Management and Media Planning and Buying.
We’ve been exclusively focused on helping our clients maximize productivity, efficiency and profitability for over 40 years, with hundreds of agencies and media buying practices counting on us to help run their business every day.
With Advantage, you get a team of US-based agency veterans supporting you every step of the way. All users have unlimited access to our live customer support line from 8:00am-7:30pm Eastern every business day.
Find out how Advantage can help you by contacting us for a complimentary demo or discussion about your unique needs.