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CTV advertising and the European landscape

CTV advertising and the European landscape

This study covers six markets; the European ‘Big 5’ markets of France, Italy, Germany, Spain and UK, as well as Sweden.

The ‘Big 5’ commonly denote the countries with the largest populations in Europe. By extension, they are also the top media markets in many regards and most notably, Europe’s biggest TV advertising markets. In addition to their size, their geographic distribution from Western to Central Europe and across North and South makes them compelling entities in comparative studies.

We have also included Sweden in order to get a reading on Nordic markets. Sweden also operates as a corrective factor - it is a market that experienced a relatively late liberalisation of the free TV market and the ad funded TV model, paired with one of Europe’s highest broadband and Pay TV penetrations.

Due to the still nascent stage of the CTV market in Europe overall, we have deliberately focused on a curated selection of markets. We believe that the different stages of development exhibited across these markets will serve as a bellwether and provide opportunities to apply learnings to adjacent markets as well. In future studies, we plan to widen the scope to include additional markets.

Between July and October 2020, we conducted 60 in-depth interviews in the markets under study across the buy (agencies and advertisers) and sell side (broadcasters and publishers). In addition, we have gathered data on connected TV penetration, broadband infrastructure, SVOD uptake, and advertising expenditure in order to develop scorecards for market development and opportunities. These scorecards have been blended with the feedback from interviewees.

The choice of methods reflects the emergent state ofCTV advertising. Standardised questionnaires would fail to capture the nuance between countries, company-specific approaches and the crucial role of specifictrading cultures and local market structures. Indeed,a too rigorously quantified approach would introduceerror and prediction bias. We believe our methods provide direct and granular feedback from each markets with a view to ensuring our recommendations for market development are relevant and practical.

According the report, Market participants in the European connected TV (CTV) advertising space are moving at two different speeds. Largeglobal players, often with unified content,technology and data infrastructure, are moving quickly to disrupt the market. Local players are moving more slowly, but are nonetheless actively deploying next generation TV advertising solutions. However, adapting existing marketstructures and incentives to a CTV-firstworld remains challenging and complex.

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