A new survey found that 62% of advertisers are shifting their ad budget from digital, social media and linear TV to increase their spending on connected TV and over-the-top advertising.
According to the survey, conducted for Premion by Advertiser Perceptions, 46% of advertisers said they were spending more on CTV to capture declining TV audiences, 44% to get the benefits of TV with digital capabilities and 39% said they wanted to achieve full-funnel marketing objectives.
"Advertisers have not only embraced CTV advertising but are shifting even more dollars away from other channels to bolster their CTV ad budgets," said Tom Cox, president of Premion. "Our study unequivocally affirms that CTV has evolved into an essential channel for marketers to achieve their full- funnel brand goals. The proven effectiveness of CTV in precisely reaching target audiences, delivering personalized ads in engaging content through premium inventory, and driving business outcomes has cemented streaming TV as a winning strategy for advertisers."
The survey found that three out of four CTV/OTT advertisers view CTV/OTT advertising as an extension of their linear TV strategy — and two out of three advertisers agree that combining linear TV with CTV/OTT advertising increases brand awareness and improves overall ROI performance throughout the entire marketing funnel.
Key priorities for advertisers turning to CTV include the ability to run messages in premium video content, maintain brand safety and avoid fraud.
The survey was produced by interviewing 151 ad agency and brand marketing executives involved in decision making for CTV and OTT advertising. The interviewees were conducted in March.
