There are devices that are gaining traction. Larger-screen connected TV devices, including CTVs, game consoles, smart TVs, and other connected devices are all increasing in usage. As the trend of CTV penetration grows by leaps and bounds, it is predicted that CTV usage in the US will surpass 200 million by the end of 2020.
Apparently, the pandemic has raised overall media consumption, and several channels, in particular. Hence, connected TV has been one of the pandemic’s biggest beneficiaries since people are streaming more than ever while being stuck at home.
Recent eMarketer findings from all over the globe back this up: more than 86% of internet users in Brazil, over 90% in Mexico, and almost the same number in New Zealand and the US had watched SVOD content and live TV since the pandemic began.
But that’s not all that’s trending in the world of CTV/OTT and video advertising?
Subscription Viewing on the Rise
By the end of this year, in North America, Netflix alone is expected to have over 185 M users. In Europe, the number of subscription OTT video service users will increase by 15.6% with even more significant gains next year. eMarketer’s figures related to SVOD content viewing not only provide a picture of the current state of play within subscription video but also basically show the growing trend here.
Along with growing viewership, we’ll see increased dollars going to CTV/OTT. Besides, enhancements of addressable capabilities, as well as further progress to more accurate and multiplatform measurement and transparency, are upon us.
With such promising SVOD viewership prospects, brands need to prepare carefully before serving their ads in front of their audience. One of the essentials to think about is ad formats.
Video Ad Formats Hitting the Score
In-stream video ads still work great, thanks to being similar to traditional TV commercials. Served in a non-intrusive way and when relevant to the context and personalized viewer’s interests, in-stream video ads can work brilliantly to grab viewer’s attention.
Other eye-catching ad formats perfect for CTV/OTT are carousel static banners and overlay full-screen ads. What makes overlay ads so efficient is an opportunity to serve such large-scale ads on large smart TV screens that typically bring together whole families in living rooms.
One more essential component here is interactivity that, combined with full-screen interactive videos and overlays with a compelling call-to-action, can greatly convert viewers.