By Julie Selman, Head of EMEA at Magnite
The last few years have seen two converging trends in the media landscape, resulting in an evolution in TV advertising. The first is greater inclusivity of underrepresented groups in TV to better represent diverse viewership. In addition to this creative evolution, technological advances have added momentum and catalysed the growth in CTV viewing, with recent research* finding CTV viewership figures fast approaching traditional TV viewership levels in the UK.
CTV is clearly the way forward for advertisers and, as shown in our ‘CTV is for everyone: 2021’ research, it is important that advertisers have effective strategies in place to stay on top of new consumer trends and understand the differences between their CTV and linear audiences in order to make their advertising more effective.
The time is now…
The effects of the global pandemic have amplified and accelerated the transition to CTV with hybrid viewing becoming the new norm. According to Samsung Ad’s data, between January 2020 and May 2021, traditional TV viewing in the UK rose by 19%, while CTV consumption increased by 59%. This has provided an enormous opportunity for advertisers to extend their audience reach beyond the barriers of traditional TV services and should now be considered an essential means of advertising for brands. With CTV viewership growing exponentially across Europe as well as the UK, CTV will only continue to be used more and more, and should be a staple investment for advertisers.
Staying on top of the evolving consumer trends
in today’s world, there has been a cultural shift in the ways that consumers shop, opening up yet more opportunities for advertisers. CTV viewers in the UK are more engaged with advertising, the research finding that 70% are more likely to pay attention to relevant messaging and 35% are more likely to buy brands that align with their values and opinions, reflecting the emerging growth in conscious consumerism. Furthermore, consumers trust social media less, with 65% of British CTV viewers paying more attention to an ad on CTV than when an ad is seen on social media (22%). This means that CTV has the potential to yield greater results than social media or traditional TV when it comes to engagement, if the most effective strategies are in place.
Unlocking CTV’s diverse new audience
The UK is rich with cultural differences and variety, so it’s unsurprising that the wide spectrum of lifestyles, languages and backgrounds are reflected in the type of television that is watched. CTV unlocks this diverse audience with the research finding that CTV reaches 69% of those born outside of the UK, many who watch content that is not in their first language. In contrast to the limitations of traditional programming, CTV is well equipped to accommodate the varied audiences and different demands for content, whilst delivering incremental results for advertisers. It is worth noting that traditional TV audiences skew heavily in the 55+ age group, CTV has captured viewers of all ages, and more digitally savvy audiences with advertisers targeting the 18-44 year old category seeing significantly better results when including CTV as part of their wider TV strategy.
Fundamentally, advertisers must harness the opportunities that CTV offers and optimise their strategies to take advantage of the scale and reach that CTV can provide. By reacting to the evolving consumer trends and understanding the richly diverse audience that CTV reaches, advertisers will ultimately see a greater return on investment.
*CTV is for everyone: 2021 report