If you are an advertiser and currently only rely on linear tv to reach your audience, you are most likely missing your target audience and spending thousands of dollars each year on the same duplicated, dwindling audiences. It’s time to consider CTV (Connected TV)!
According to Emarketer, in December of 2020, CTV households surpassed cable households (51% CTV to 49% Cable TV) for the first time. In a recent YouGov/Trade Desk survey, in 2020 15% of Cable households cut the cord for CTV, and in 2021, the number of Cable TV chord-cutters increased to 27%. And the trend towards increased CTV viewership continues as 90% of all U.S TV households view streaming content today.
As Americans cut the cable cord at an unprecedented pace, programmers are quick to adjust their distribution strategies to ensure their content is scene. The NFL Network recently announced an exclusive 11 year deal with Amazon Prime to stream their Thursday Night Football games. CBS Sports offered the 2022 NCAA Final Four games on a bevy of streaming platforms including Sling TV, YouTube TV, Hulu Plus Live TV, and DirecTV Stream. Disney+, CNN+, Fox Nation, Peacock TV (NBC) – the biggest names in media, are now all providing a streaming option to view both live and on-demand content.
These programming behemoths would not be diluting their coveted viewership on traditional TV outlets unless they knew they had too. They are responding to a seismic shift in consumer viewership behavior which began in the late 2000’s with the advent of Hulu and Netflix, and has since accelerated due to the Covid-19 pandemic and a growing dissatisfaction with restrictive and expensive cable company packages.
CTV fulfills the marketers dream of TV ads that target the right audience, in the right geography. The digital world has been targeting based on data for over a decade. It allows advertisers access to multiple tactics that can reach hundreds of audiences of all shapes and sizes. Digital ad tactics like site retargeting, search retargeting, contextual targeting, geo-fencing, CRM targeting and demographic targeting have been working for advertisers with display for years and now they can apply the same precision targeting to the world of connected TV.
And let’s not forget about geo-targeting. Linear TV often targets areas that are larger, often much larger, than local businesses can service. Ideal for targeting a DMA, this often means wasted ads on prospects who are unwilling to drive the distance to the advertiser or prospects that are too far for the advertiser to service. With CTV, advertisers can target areas as small as a neighborhood, or a zip code, or specific neighborhoods or zip codes.
Adding CTV to your media plan allows you to reach viewers who have never seen your traditional TV commercial messaging. As a result, CTV can create unduplicated, unique reach; and if it’s executed properly, CTV can be added without increasing your overall TV spend. At Cyrid Media, we can review your current linear tv buys and make suggestions on how to make the transition to a more convergent TV media strategy. Let us know if we can help.
There is seismic change going on in the baseball community, and the tremors that come from this change are affecting the entire media ecosystem. I came across this article (see link below) that really stopped me in my tracks.