80% of advertisers have increased their converged TV investments year over year, according to a survey by Innovid, an independent advertising platform for delivery, personalisation and measurement of converged TV.
In addition, of the more than 250 senior brand and agency respondents polled in the report titled ‘The Great Unification of Converged TV’ in September 2022, nearly all (92%) said a unified view of converged TV reach and performance across linear TV, CTV and digital video is important.
Stephanie Geno, CMO of Innovid, said: “The TV experience is being reimagined. As content and consumption offerings evolve to meet the needs of modern viewers, brands and agencies are challenged by a fragmented media landscape – one that is no longer bound by time, platforms, locations, or devices.
“To truly thrive in this ‘converged TV’ market – which encompasses linear, CTV, and digital video – marketers need a unified view of advertising and audiences. Not only to understand how cross-platform campaigns are really working, but also to uncover actionable insights to reach and engage with the right consumers where they are.”
Key takeaways from the report include:
- Converged TV Spend Grows as the Video Mix Diversifies: Nearly 45% of respondents allocated 20-40% of their total media ad spend to converged TV, and 31% devoted 40-50%. With the increase in converged TV ad spend, video mixes are diversifying. No longer dedicating the majority of spend to one platform, respondents illustrated a wide range of impression allocation across linear, CTV, and digital video.
- Fragmentation Challenges in a Converged TV Market: When asked to rank the top pain points around converged TV advertising, “viewer fragmentation” was the top challenge (40%), followed by “creative personalization” (37%) and “inconsistent measurement” (32%).
- Components for Converged TV Success: When asked what’s needed for brands and agencies to improve the performance of converged TV campaigns, 66% stated “consolidated technology” while 63% responded “unified measurement” to streamline and automate delivery and measurement.
- Benefits of a Unified View: “Improved ad relevance” was cited by 62% of respondents as a top benefit of having a unified view of converged TV, driving deeper engagement by strengthening cross-platform personalization and creative performance. A close second, at 59%, was “increased data ownership,” and having a wider range of data access to measure relevant metrics.
“The time is now for advertisers to seek a unified view into reach and performance through a consolidated tech platform that can surface the actionable insights necessary to consistently inform strategies and drive business impact,” added Geno.