On the heels of the 2021 IAB Canada Revenue Survey indicating a steep incline in video ad spending ($1.2B up 20.7%), Comcast has released an insightful report outlining “Actionable Insights for the Modern TV Advertiser”. While the study’s scope is U.S. based, many insights apply cross-border.
Canada is shoring up its content with exciting new products from broadcasters and digital players. Today, advertisers have no shortage in finding premium content to place a wide range of ad formats. The report covers the persistent challenge of finding the right audience given the fragmented landscape. As in all digital channels, the advice is to leverage viewing data across all endpoints and to focus on outcomes over content.
5 key consumption highlights from the report:
- Households continue to watch traditional TV, but on their own schedule
Viewers are still spending over 6 hours a day with traditional TV, and of that time, 71% of TV viewing happens outside of primetime hours.
- Viewers are watching mostly live content – both on traditional TV and on streaming
89% of traditional household TV viewing is spent watching live TV; meanwhile, 54% of digital video content viewing is live – proving that digital viewing isn’t only “catch-up” and “binge-viewing”.
- Viewers prefer the big screen, even when watching digital content
When watching digital content, viewers still prefer the lean-back, big screen viewing experience of their television set – which also allows for multiple unique viewers at once.
- Viewers are exposed to more digital ads than ever before
Between 2H 2020 and 2H 2021, ad views on digital video services grew by 45% as more viewers turned to these devices to watch their favourite shows.
- Viewers report they are still open to ads on streaming
According to a recent survey, 75% of respondents think ads on streaming are fine as long as the content is free.
IAB Canada continues to engage the video advertising community through committee meetings and panel discussions about this rapidly changing landscape. Check out our CTV Resource Centre for more information or to participate in these discussions, reach out to [email protected].