Connected TV continues to increase in popularity amid accelerating cord-cutting and cord-shaving trends and brand-safety and viewability remain priorities for advertisers. These are among the top findings of our Q3 video benchmarks report which provides a view into performance trends in video advertising and a means by which advertisers can make spend decisions and gauge campaign success. The analysis is based on metrics from our third-party ad-server including data on click-through, completion and viewability rates for video ads served on desktop, mobile, tablet and connected television (CTV). Here are the main findings:
Connected TV Is the Quarter’s Big Winner–Again
At a stunning 95%, completion rates for ads on CTV continue to increase and outpace those of other platforms. For example, CTV completion is 32% higher than for mobile and 27% greater than desktop. The popularity of CTV is a result of the continued development of the streaming market, along with the increasing numbers of consumers who are choosing streaming over pay TV. And while CTV advertising has generally lagged the growth of the segment, the tides may be turning. While we believe that advertisers will start allocating a larger share of their budgets to CTV as adoption and targeting capabilities increase and improve, they shouldn’t abandon traditional TV in the process. One need look no further than recent findings from eMarketer advocating for investments in both, to understand why.
In concert with Connected TV, 30-second Ads Are Coming Back into Fashion
While there’s been plenty of coverage in the media (and on our blog as well) around 6-second ads and the value of short and sweet in an era of distracted, fragmented consumers, 30-second ads seem to be gaining in popularity on the back of CTV. Our data showed impressions increasing 102% year over year. And given that this spike was accompanied by a 38% decline in 15-second spots during the same period, it would seem that advertisers are gravitating to the extreme ends of the spectrum in the hopes of finding a way in to more effective consumer engagement.
To Ensure Brand Safety and Viewability, Advertisers Continue to Pay More for Premium Inventory
And with good reason. The performance of ads on premium publishers outpaced media aggregators again this quarter with completion rates for premium exceeding aggregators by 32%. In addition, premium completion rates increased nearly 29% vs an 8% rate for the latter.
The excitement and investment around CTV has the potential to have a significant impact on digital advertising trends going forward. For more insight and information, see the full Q3 Video Benchmarks Report.