Brands are betting heavily on CTV advertising
It's almost unanimous. 98% of brands believe Connected TV advertising will be bigger than mobile in the next two to three years.
No fewer than 98% of brands believe that CTV advertising will be bigger than mobile. That’s the eye-grabbing headline from a report released today by mobile analytics and attribution platform AppsFlyer.
A quarter of respondents say that CTV advertising will overtake mobile in the next two to three years, and around a third believe CTV is a measurable performance channel.
A receptive audience. With brands planning significant increases in their CTV ad budget in 2023, the good news is that 86% of consumers are willing to see ads that are relevant to them or entertaining, and only 40% anticipate rejecting CTV if there are too many ads.
What brands may be overlooking, the report says, is that some of the most watched CTV is delivered through gaming consoles; brands are more focused on advertising on smart TVs. The report, “Connected TV Trends, 2022-23,” was based on interviews with 500 CTV consumers and 200 martech and marketing executives from the retail, fintech and gaming verticals. Respondents are based in North America, Europe or APAC.
QR codes can promote app downloads. Brands also need to understand consumers’ openness to using QR codes shown on CTV, especially to download apps. While 38% of brands think QR codes perform well in supporting app downloads, 26% disagree (33% are open to testing it).
On the other hand, 53% of consumers are very likely or quite likely to scan QR codes shown in ads. Half of consumers surveyed reported downloading a mobile app after seeing an ad.
Why we care. In 2021, Jeff Green, CEO of The Trade Desk described CTV as the most effective vehicle for advertising ever created. It looks like it’s going to be very big, not just because audience reach is increasing rapidly, but because it supports advertising based on first-party household data and aids attribution.
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About the author
Kim was Associate Editor at a New York Times hyper-local news site, The Local: East Village, and has previously worked as an editor of an academic publication, and as a music journalist. He has written hundreds of New York restaurant reviews for a personal blog, and has been an occasional guest contributor to Eater.