connected-tv-trends-2024

Connected TV Trends 2024

In the latest edition of Labtalks Live, we're diving into the dynamic world of streaming and advertising, exploring the latest trends shaping the industry. In this edition, we'll delve into some noteworthy CTV trends recently identified by Samsung Ads. Join us as we examine these trends and discuss their significance for our future endeavours in the ever-evolving landscape of streaming and advertising.

What is Connected TV?

Connected TV, also known as CTV, refers to any TV, device or service that allows viewers to stream video content over the internet. This includes:

  • Smart TVs with built-in streaming capabilities
  • Streaming media players and the likes of Roku, Amazon Fire TV, Android TV etc.
  • Gaming consoles like PlayStation, Xbox, etc. that support streaming apps
  • Mobile devices like phones and tablets that can "cast" streaming content to a TV screen

Streaming video providers take advantage of CTV to deliver their content direct to viewers over the internet without the need for a traditional cable subscription.

The way consumers view television content has shifted dramatically in recent years. An increasing number of households are abandoning traditional cable subscriptions and turning to streaming platforms like Hulu, Netflix, and Disney+ to access entertainment. This profound change in television consumption habits has opened up a significant new opportunity for advertisers: connected TV (CTV) advertising.

While traditional TV advertising remains influential, particularly during prime-time viewing hours, the CTV advertising landscape is rapidly evolving, creating new possibilities but also introducing new challenges for brands to engage audiences in the streaming era. x

Emerging trends of 2024

Trend 1 - Broadcasters Still Prime-Time Players:

Despite the rise of streaming, traditional broadcasters are maintaining their foothold, especially in prime-time slots. This staying power stems from their consistent schedules and ability to adapt with streaming options. As we plan our streaming efforts, broadcasters remain influential players we need to consider.

Trend 2 - Interactive & Shoppable Ads:

With CTV's interactivity, ad formats are becoming more engaging. Interactive and shoppable ads allow viewers to directly interact with ads by playing games, answering polls or making purchases. As an avenue to blend entertainment and shopping, these ads present new opportunities for us to explore.

Trend 3 - Shift from Binge-Watching:

While binge-watching persists, viewing behaviours are diversifying. The average streamer now watches 8 sessions per week at 2 hours per session. With more choices vying for viewers' time, this shift provides insight into viewers’ streaming habits.

Trend 4 - AI Driving Personalisation:

AI has become integral to elevating experiences and discoverability in CTV. Features like Samsung's Universal Guide leverage AI to provide personalised recommendations. As we employ AI, personalised experiences can help us better engage streaming audiences.

Trend 5 - Privacy as a Priority:

Data privacy is coming to the forefront. Brands embracing privacy through transparent data usage and consent tools are building viewer trust. We should similarly make privacy a key consideration as we navigate streaming and advertising.

By understanding these CTV trends, we can make smarter decisions about our streaming, content and advertising approaches in this evolving landscape.

Navigating Key Challenges

Privacy and Data Concerns:

As concerns about data privacy grow, advertisers must handle data usage and consent carefully to maintain consumer trust. Adhering to regulations and being transparent about data practices are crucial for building and maintaining positive relationships with audiences.

Measurement and Attribution:

The lack of consistent measurement and attribution methods makes it hard for advertisers to gauge the effectiveness of CTV ads. Without clear metrics, optimising campaigns and allocating resources becomes challenging. Investing in robust measurement tools and analytics can help advertisers better understand the impact of their CTV advertising efforts.

Fragmentation and Inventory Diversification:

The diversity of streaming platforms and the distinction between ad-supported and premium content pose challenges for reaching broad audiences. Advertisers need strategies to navigate this fragmented landscape. By diversifying inventory sources and using audience segmentation, they can tailor their messaging to different platforms and audience segments. Collaborating with content creators and publishers can also provide access to premium content and enhance brand visibility in the competitive CTV advertising space.

In conclusion, the evolution of television towards streaming and connected TV (CTV) advertising presents both opportunities and challenges for advertisers. Understanding key trends like the resilience of traditional broadcasters and the rise of interactive ads is crucial for effective engagement with audiences. However, navigating privacy concerns, measurement issues, and content fragmentation requires careful consideration. By staying informed and adaptable, advertisers can harness the potential of CTV advertising while addressing its complexities to drive meaningful connections with viewers in the evolving landscape.

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