2024 CTV Advertising Trends: A Roadmap for Advertisers
Reading Time: 4 minutesIs your CTV advertising on the right track? Explore the key CTV trends to maximize video advertising results in 2024.
The rising popularity of connected TV (CTV) comes as no surprise, especially amid the COVID-19 pandemic, where cord-cutting has become a prevalent trend. And why not? With an array of streaming options, CTV offers a compelling alternative to traditional linear TV, opening gateways for both consumers and advertisers as a source of entertainment and a powerful asset to maximize brand engagement and recall.
2023 has seen connected TV reach new heights — recorded ad revenue to nearly 26 billion US dollars. “As we look toward 2024, it is expected to hit $29.6 billion due to the channel’s performance capabilities and rapid adoption.
It’s safe to say CTV advertising is here to stay.
But, how to reap the maximum benefits of this lucrative advertising format and overcome the constant challenges of ad clutter? Advertisers who adapt to change and are ready to shift their strategies according to the recent CTV trends will win the war of customer attention and growth.
We have identified 3 CTV trends that will shape the CTV advertising landscape in 2024. Start leveraging them to stay ahead in the advertising game.
AI-Fueled Dynamic and Interactive CTV Ads
With programmatic video advertising offering highly targeted audience impressions that come and go in a matter of milliseconds, the race is on to use automation and artificial intelligence (AI) to optimize CTV campaigns.
From real-time bidding to audience targeting, campaign optimization, and granular campaign insights, AI has fast-forwarded advertisers’ efforts with equal accuracy and precision.
This CTV trend is making waves in the video advertising industry and there is an untapped potential to tap in order to surprise audiences and enhance brand interactivity and awareness.
The Growth of Attention Measurement in CTV Advertising
Traditionally, measuring CTV was primarily focused on Video Completion Rate (VCR), simply determining if an ad was viewed in its entirety. However, with CTV’s measurement capabilities, advertisers have the opportunity to implement advanced models for understanding the effect of CTV advertising on desired outcomes.
One such performance metric gaining momentum in the world of CTV advertising is Attention Measurement.
Today, attention measurement has become a key component of gauging a campaign’s impact. Advertisers are quickly leveraging attention metrics in CTV advertising. This is because it enables them to have a clear understanding of how much the audience was hooked to the ad, where they were dropped, and the average in-view time of the ad.
Context is the Next Best CTV Advertising Trend
Contextual advertising emerges as a prominent trend in CTV advertising, revolutionizing how advertisers connect with audiences in the digital arena. This approach focuses on tailoring ads based on the surrounding content, allowing for more relevant and impactful messaging.
With the demise of third-party cookies, advertisers are increasingly prioritizing context alongside audience targeting to maximize engagement and effectiveness. By aligning ads with the themes, topics, and emotions of the content being consumed, contextual advertising enhances viewer resonance and brand relevance.
Moreover, contextual advertising is a great factor in maximizing results for attention measurement. ‘More context, better attention, and ROI.
Read more about how contextual advertising helps drive customer attention.
As video advertisers seek to navigate the evolving CTV landscape, contextual advertising proves to be a strategic imperative for driving meaningful connections and achieving campaign success
Therefore, keep an eye on this trend to build connections and resonance with your audience.
Prepare for 2024 with VDO.AI
VDO.AI is a global advertising technology innovator that has helped hundreds of advertisers make the most out of their CTV advertising. With premium inventory, predictive AI, contextual targeting, and interactive elements like QR wrappers and banded canvases, we have delivered hair-raising engagement and campaign performance for various brands.
That said, our campaign specialist team brings a balance of trending and existing advertising solutions to offer advertisers the safest environments and brand safety assurance to bank real-world results.
Frequently Asked Questions
What is CTV Advertising?
CTV advertising refers to the placement of video ads on internet-connected television devices or platforms. This allows advertisers to reach audiences by streaming content on smart TVs, streaming devices, and OTT (over-the-top) services.
What is CTV vs OTT?
Connected TV (CTV) refers to television sets connected to the internet, enabling streaming of digital content via apps or platforms. Whereas, OTT (Over-the-Top) encompasses any content delivered over the internet. This includes CTV and content accessed on other devices like smartphones, tablets, and computers.
What are the benefits of CTV advertising?
CTV advertising offers several benefits. Some of them include:
- Extensive Reach: Reaches audiences consuming content on internet-connected TV devices.
- Targeted Advertising: Enables precise targeting based on demographics, interests, and viewing behavior.
- High Engagement: Captures viewers’ attention with immersive, high-quality video ads.
- Measurable Results: Provides detailed analytics to track campaign performance and ROI.
- Flexibility and Creativity: Offers opportunities for innovative ad formats and interactive experiences.
- Premium Inventory: Access to premium content environments, ensuring brand safety and quality placements.
