Marketing Trends 2023: CTV and Video/Streaming Will Lead. Will Advertising/ers Follow?
Two decades ago, we witnessed a transformation in how people consume content. This digital shift has changed advertising from search and social media to smartphones and on-demand streaming. Advertisers have quickly capitalized on the opportunity to extend their brand’s message via short-form videos. With so much data, content sources, and entertainment options available, traditional advertisers are looking to keep their audience’s declining attention span. Thus, video will continue to be a driving force in advertising in 2023. See what our resident video experts say about the latest video trends and why you should consider them in your marketing mix.
Continued “Bundling” Across Streaming Providers
Whether it’s HBO Max and the Discovery app merging catalogs, or the Paramount + and Showtime package deal, bundling seems the hottest new trend in streaming.
“As the landscape continues to consolidate, we’ll likely see more of these partnerships as streamers try to validate whether or not their audiences are compatible as a combined service. Marketers will be interested in which entity ultimately manages customer PII when two streaming providers merge. Who will own the relationship with the consumer and the data about what they stream? And how will combined services ultimately determine the amount of CTV supply for marketers?”
Video Ad Spend Will Keep Growing
“The influx of streaming options hasn’t alleviated brand safety & fraud concerns, so advertisers will continue to purchase CTV directly from publishers or suppliers who directly connect to premium inventory. Additionally, advertisers are relying more heavily on CTV as an alternative to mobile advertising due to IDFA privacy changes. CTV buying doesn’t rely on cookies, so advertisers can still rely on contextual targeting and first-party identifiers to hit their target audience.”
“There’ll be continued programmatic adoption in CTV,” continues Wu, “especially regarding signaling and accurate measurement. Publishers who don’t have a CTV supply will find alternative ways to increase their video supply. This may explain why outstream, vertical, and high-impact video units have recently regained more popularity. As more consumers shift to mobile, vertical video allows for a more engaging user experience.”
Growing Popularity of CTV In-Show Formats
“Marketers have historically used linear TV for upper-funnel branding campaigns. However, CTV allows marketers to go deeper with their target audience — offering interactive ad formats where the viewer can be served a call to action. In addition to being highly measurable, this opens up more opportunities for marketers to leverage CTV for full-funnel marketing campaigns. Think of being served an ad for a great new pair of jeans and then being able to purchase them right on your TV!” says Alexander Herguth, Senior Director of Publisher Development at TripleLift.
Improved Frequency Capping
Frequency capping has been an ongoing challenge that CTV marketers and tech providers are trying to solve. With CTV ad spend and viewership significantly increasing each year, the challenge is to provide users with a good viewing experience and effective marketing (nonrepetitive). We’ll see the push for more enriched ad request signals sent to buyers, who will make informed decisions about ads to send to the user. According to Herguth, “Along with ad-podding, we should see fewer instances of duplicative commercials/ads running again and again.”
More FAST Channels
“We will continue to see significant growth in FAST channel viewership and, subsequently, more choices of FAST channels to consume,” says Herguth. FAST allows content creators to build content bundles for niche and broad audiences. Moreover, with contextual targeting on the rise, creators, we should see more FAST options to meet the demand brands have for privacy-centric solutions.”
The Rise of OTT & CTV in Asia-Pacific (APAC)
”The pandemic accelerated the growth of OTT and CTV in APAC and globally as streaming content transpired into a habit. Yet, at the same time, people were confined within the four walls of their homes. According to IAS’ Streaming Wars CTV study, CTV has become mainstream in Indonesia and Australia, with the majority of consumers having access to it and a whopping majority of respondents preferring the AVOD model and being willing to see ads in exchange for free streaming video.”
“CTV consumption will continue to grow in 2023, with the discoverability of content on CTV becoming a key focus.” Huang continues, “AVOD models have increased as video consumption increases, underpinned by the rapid growth of CTV, the control and scale provided by programmatic will become even more essential.”
All in all, relevant and well-crafted videos will be the name of the game to keep consumers’ attention. By leveraging data, media, and emerging trends, you’ll be able to integrate video into your marketing strategy to make the most of your efforts and enhance your business’s bottom line.
Interested to know other possible marketing trends in 2023? Then read Marketing Trends 2023 for CTV, Marketing Trends 2023 in a Data-Driven, Cookieless World, and Marketing Trends 2023: DSPs.
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