AT&T’s advertising company Xandr has launched its industry insider report and the results of a novel EMEA-wide industry survey on Connected TV (CTV) in Europe in partnership with the IAB Europe.
The survey and results dive deeper into the drivers, challenges and adoption of Connected TV advertising as a media buying option in a changing TV landscape across Europe.
74 respondents took part, representing all buy-side stakeholders (advertiser, agency, DSP, Independent Trading Desk). The findings show 89% of respondents currently dedicate less than 10% of their total ad spend to CTV
while 86% foresee an opportunity to increase spend in CTV over the next 18-24 months.
Looking into the opportunities and challenges around the adoption of CTV, traditional TV viewing declining, the introduction of data, leaned-in viewership and targeting efficiencies were all cited as opportunities for brands.
58% of respondents reported targeting efficiencies as being a key driver to considering or increasing investment in CTV.
Similarly, challenges were all listed out which included identity issues and fragmentation of supply. Education around CTV also proved to be a problem with 41% of respondents stating a lack of understanding of the ecosystem was a key barrier to adopting CTV.
Meanwhile, 35% of respondents said data insight was a key driver to considering or increasing investment in CTV.
“Our research with the IAB Europe shows that with the development of best practices, industry standards and investment in education, CTV campaigns at scale will translate into an upward tick in ROI for brands,” said Austin Scott, head of video market development EMEA, Xandr.
“Brands and agencies should recognise shifting consumer behaviour as an opportunity and evolve their spend strategy to reach audiences on their connected devices. Xandr is committed to sharing our learnings in the market as CTV adoption grows in Europe,” he added.
“The research we have conducted with Xandr offers both insights into the challenges advertisers face but also the opportunities they can take with Connected TV. Indeed, our research showed that all stakeholders are expected to increase their spend on Connected TV in the next two years. With more and more consumers engaging with video this is a prime opportunity for brands and agencies to put their focus into CTV,” commented Marie-Clare Puffett, marketing and industry programmes manager at IAB Europe.
