inside the mindset of CTV advertisers
piqniq co-founder Bee Pearson took to the stage at VideoWeek’s New Video Frontiers to talk about the ‘Mindset of the CTV Advertiser in 2024’. Below we share key parts of the panel’s discussion.
Navigating the growing CTV ecosystem:
The choice for consumers has never been better when it comes to CTV. But while offering consumers unprecedented choice, the expanding CTV landscape poses significant challenges for advertisers navigating its complexities. This is underscored by the recent advertising launch on Amazon Prime Video which due to Amazon's opt-out approach has led to an uptake rate of around 90% (compared to 5% across Netflix and Disney+ launches).
While Amazon Prime Video presents a significant opportunity it is also another in a long line of CTV publishers for brands to navigate. Yes programmatic provides an opportunity for brands, but still a host of content remains inaccessible via this route with UK broadcasters on the whole remaining reluctant. Ultimately this is a crowded and cluttered marketplace for both brands and consumers to navigate whether that be SVOD, BVOD, AVOD or even TVOD services (yep we know, another new acronym!).However, amid clients' struggles to navigate the complexities of CTV, agencies like piqniq are experienced in this cluttered space and poised to guide clients to CTV success.
Advancements in Measurement:
A key theme of the conference was the ongoing challenges in holistic CTV measurement, acknowledging the industry's slow response towards meeting agencies' measurement demands. Nonetheless, a notable development was the launch of C-Flight's sub-demo measurement for linear TV and BVOD activity, marking a significant step forward despite its current limited coverage among CTV providers. Still a long way to go, but it is a step in the right direction and hopefully part of a roadmap that will eventually include non-broadcaster content soon too.
One of the key challenges that remains is the lack of quality metrics in CTV advertising. Unlike traditional linear TV campaigns, optimizing toward quality parameters such as share in peak, position in breaks, and programming specials presents a considerable challenge in the CTV space. The inability to manage the quality of CTV airtime poses a distinct challenge, as the perceived value of TV as a marketing channel is often tied to its premium and high-quality appeal. Justin Sampson, CEO of BARB, later echoed these insights, cementing this challenge as a prevalent industry wide issue.
Growing Thinkbox Membership:
The definition of TV content is expanding, with the inclusion of previously unrecognised platforms. Until recently the industry only thought of TV as the UK TV broadcasters. However with help from BARB and Thinkbox this definition has expanded. Five commercial TV platforms, Disney+, Amazon Prime, Netflix, VEVO, and Warner Brothers Discovery, have now joined as members of Thinkbox. This was the first time since its establishment in 2005 and is a significant milestone for CTV. This expansion underscores the growth of the commercial TV sector, and aligns these CTV platforms with the traditional TV platforms and Thinkbox original members - Sky Media, Channel 4, ITV, and UKTV. And for TV overall that’s great news as we’re now seeing growth in commercial TV viewing for the first time since 2016 (outside of the pandemic) proving the trajectory of TV & CTV overall has never been stronger.
“Inside the Mindset of CTV Advertisers in 2024” hosted by Stefanie Briec from AudienceXpress on the Main Stage at VideoWeek’s New Video Frontiers. Bee was joined by Joe Barnes, Digital Media Specialist at Arla Foods, and Mary Katopodi, Head of Media at Asahi.
