Nearly 8 in 10 Advertisers Now Use Advanced TV and Most Plan to Increase Spend in the Next 12 Months, According to IAB Research
Some form of advanced TV has been used in marketing efforts by 78% of advertisers, according to the survey, “Advanced TV: Ad Buyer Perceptions.” In addition, 72% of marketers and agency executives surveyed believe that advanced TV will become an important advertising platform within five years. According to a press release by the Interactive Advertising Bureau (IAB), this survey was recently published by the IAB and its Digital Video Center of Excellence.
The current media budget allocation for advanced TV is $1.4 million; however, 70% of advertisers expect to increase their budget for this medium within the next 12 months. Funding is expected to come from both TV budgets (68% of respondents) and expanded or experimental ad budgets (54% of respondents). Addressable advertising, second screen ads, and interactive tags are among the advanced TV ad formats expected to increase in the next year.
The strongest benefits of advanced TV include:
-Better targeting capabilities.
-Ability to reach consumers anytime on any device.
-Ability to personalize or localize messages.
Potential obstacles to the growth of advanced TV include:
-Marketplace confusion about this medium.
-Uncertainty about the differences between advanced TV and connected TV.
-A lack of understanding about advanced TV’s technical process.
-Concern about high costs.
The IAB is establishing a committee on the subject of advanced TV in response to member interest. The press release includes a link to the complete findings of this report.
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