2023’s Forecasts For Connected TV (CTV) Advertising
OTT/CTV Advertising Continues To Gain Momentum From Major and Mid-Market Companies
2023 Advertising Trends
2023 is predicted to be a big year for advertising, as companies continue to take advantage of the growth of digital advertising and marketing. Here are some of the advertising trends to look out for in 2023:
- Increased targeting capabilities: CTV advertisers will benefit from more advanced targeting capabilities, such as the ability to target users based on the types of content they watch, the devices they use, and even the time of day they are watching.
- Ad personalization: CTV advertising will move toward more personalized ads, with the ability to serve ads based on user preferences and demographics.
- More integration with other channels: CTV will become increasingly integrated with other channels such as OTT, mobile, and desktop, allowing for more accurate tracking and measurement of campaigns.
- Improved measurement and reporting: CTV advertisers will be able to get more granular data about their campaigns, including metrics such as viewability and completion rates.
- More dynamic ad formats: CTV advertisers will have access to more dynamic ad formats such as interactive video, 360–degree video, and immersive advertising.
- Increased focus on programmatic buying: Programmatic buying will become increasingly important for CTV advertisers, allowing for more efficient and cost–effective campaigns.
2023 Growth in OTT/CTV Ad Spend
Over the past few years, OTT (over–the–top) advertising has experienced exponential growth. OTT advertising is a form of digital advertising that is delivered through streaming services such as Sling TV, Hulu and Philo TV. OTT advertising is appealing to many brands because it gives them the ability to target specific audiences with highly personalized ads. It also offers greater control over the placement of ads, which can be tailored to different devices and locations.
As streaming services have become the go-to source for entertainment and news, OTT advertising has become increasingly important for brands looking to reach consumers. In addition to being able to more accurately target and measure audiences, OTT advertising has become more cost effective than traditional television advertising. This cost effectiveness has allowed brands to invest more in OTT advertising, resulting in higher ROI.
The growth of OTT advertising is also being driven by advancements in technology. OTT advertising platforms use sophisticated algorithms to better understand viewer behavior and deliver ads to the right audience. This technology has enabled brands to optimize their campaigns and create more effective ads.
As OTT advertising continues to grow, it is likely to become an increasingly important part of any brand’s advertising mix. With its ability to reach targeted audiences with greater accuracy.
Benefits of OTT/CTV Advertising Platforms
OTT/CTV (Over–the–Top / Connected TV) advertising is quickly emerging as a powerful way for brands to reach their target audiences. From increased reach and frequency to precise targeting and superior measurement, OTT/CTV has many advantages for brands.
- Increased Reach and Frequency: OTT/CTV offers a great way to reach a larger audience, including those who do not watch traditional television. It also increases the frequency of impressions, allowing brands to reach their target audiences more often.
- Precise Targeting: OTT/CTV allows for precise targeting based on demographics, interests, behaviors, and more. This allows brands to ensure that their ads are reaching their desired audiences.
- Superior Measurement: OTT/CTV offers superior measurement capabilities compared to traditional television, allowing brands to better understand their campaigns and optimize them over time.
- Cost Efficiency: OTT/CTV is more cost efficient than traditional television, allowing brands to get more bang for their buck.
- Brand Safety: OTT/CTV offers brands the ability to control their environment, ensuring that their ads are appearing in safe and appropriate environments.
Overall, OTT/CTV offers brands a powerful, cost-effective way to reach their audience with scale.
What Makes JamLoop Different?
We built and operate proprietary DSP technology designed specifically for OTT & CTV. Everything we do, from the way we directly source and curate premium inventory, to our real-time campaign optimization, to our robust reporting interface speaks volumes to our deep focus on OTT & CTV.
Contact us to learn more about our cutting-edge OTT/CTV advertising platform.