So, what’s the buzz around Streaming TV? It’s 2024, the way that people watch TV is changing! Long gone are the days of moving your TV antennae with extreme care to weasel out a better signal. Cords are finally taking a break, making room for a double-digit migration from Traditional TV to the world of Streaming TV.
In 2024 Streaming TV ad spend is expected to reach $30.1 billion (about $93 per person in the US), which is a 22.4% increase from 2023.
By 2027, CTV ad (aka Streaming TV) spending is expected to grow by 72.5% to $42.4 billion (which is about $130 per person in the US). Consumers are going feral for the convenience of finding all the content they want when they want it on these Streaming TV platforms. After a long day of work most people just want to rot on their couch and watch Peacock, Tubi, etc. to unwind, so let’s meet them where they are.
As advertisers we can see this multi-billion-dollar opportunity staring us straight in the face.
The transformation in how consumers watch TV also represents a massive opportunity for YOU and YOUR ADVERTISERS to manage all their marketing dollars with one, trusted media consultant. As platforms and publishers gain more insight into their viewers and can serve ads directly to desired audiences, Streaming TV advertising will be more targeted and effective.
But why are advertisers funneling money to Streaming TV? What’s so special about streaming compared to Traditional TV advertising, they are both just TV, right?
Wrong! Streaming TV has so many more targeting capabilities than most people realize with audience reach, content delivery, and interactivity that should be taken advantage of.
Traditional TV vs. Streaming TV Targeting Capabilities
- Traditional TV Advertising: It reaches a mass, market audience through scheduled broadcasts on cable or network television.
- Streaming TV Advertising: It targets specific audiences based on demographics, interests, and viewing behavior since streaming platforms allow for more targeted advertising.
- Traditional TV Advertising: Advertisements are shown during scheduled program breaks, and viewers have limited control over content.
- Streaming TV Advertising: Viewers have more control over content, often choosing when and what to watch. Ads may be integrated into the streaming service, and viewers might have the option to skip.
- Traditional TV Advertising: Generally lacks interactivity, with viewers having limited engagement options during the ad.
- Streaming TV Advertising: Offers more interactive features, such as QR codes, clickable ads, surveys, and direct response mechanisms, providing a more engaging experience.
How do I advertise on Streaming TV?
Okay, okay, so now that us advertisers know Streaming TV in 2024 will be hot and trending, the big question is, “What’s our move?” How do we snag those prime spots on major streaming platforms? Aren’t those usually under the tight grip of the major broadcast networks? It seems like a lot of headache and not much control on our part… Don’t worry, this is also all wrong!
You already know how to sell Programmatic Display ads, you’ve got the secret sauce to sell Streaming TV ads too, putting you in the ring with the big broadcast networks in your area.
Anyone can sell it now. Long gone are the days of relying on the big guys in broadcast.
This is a now-or-never situation. So, buckle up, because the game is wide open, and anyone can step up to the plate.
There Are More Impressions Available in 2024
Amazon Prime began including ads to their streaming platform on Jan. 29. Prime members who want to keep their movies and TV shows ad-free will have to pay an additional $2.99 per month. Surprise, surprise, very few are paying the extra dollars for a non-ad experience.
Prime Video’s entry into the streaming ad market raises the stakes on its rivals because Amazon is automatically opting in Prime subscribers to the ad-supported tier, a tactic that is enabling the e-commerce giant to project a monthly ad-supported audience of 115 million people. That would put Prime Video in league with Disney’s Hulu — which has claimed more than 115 million ad-supported viewers — atop the streaming ad market.
More players are being added to the game, which means more ad impressions will be available in 2024. Let’s take advantage of this together.