Significant opportunity for buyers in CTV market, says Xandr report
Ad tech company Xandr has launched a global first CTV guide, looking at the opportunities and challenges that connected TV presents for advertisers and media buyers.
‘Advertising’s Creative Canvas: Xandr CTV Guide 2021’ explains the advanced market Australia finds itself in with regards to CTV, and provides information to make it easier for advertisers to buy across a range of services.
The report found that nearly half of all Australians over the age of 14 have viewed connect on a connected TV, with 30% doing so on a daily basis.
Xandr senior account director, Tom Dover, said Australian viewers have flocked to CTV services.
“For advertisers, CTV presents the best of both worlds – you get the scale and attention of traditional TV, with the addition of digital. Viewers choose what they want to watch, so there are higher dwell times and increased engagement; ads are highly viewable and boast completion rates of 90%.”
Those platforms include Seven, Nine and Ten’s multi-platform BVOD services, plus paid subscription services like Amazon Prime, Apple TV, Binge, Disney+, Netflix and Stan.
The reported also cited IAB figures that found the number of Australians viewing CTV content every day has grown 22% of the last year. Most of the CTV audience segment is made up of a younger demographic, who are harder to reach on traditional platforms and media.
Finecast Australia managing director, Brett Poole, said: “This means that when we activate addressable TV strategies, we have the highest-quality data to work with in the market to ensure precision, greater efficiency and improved measurement.”
The Xandr report found that many companies are still cautious to advise against an excessively digital approach, even though collaborations between advertisers and CTV are creating a path for more advanced, targeted buying.
Ten ViacomCBS head of video ad product and technology, Ashton DeSantis, said: “At its core, CTV is still a TV-like viewing experience.
“It should be utilised as both a top-of-funnel, awareness, and brand-building medium, as well as a lower-funnel buy when targeting and addressability is overlaid.”
