67% of advertisers now use addressable TV advertising, report
Go Addressable, an industry initiative created by television distributors to advance addressable advertising, has released new research – in conjunction with Advertiser Perceptions – that tracks the latest growth, adoption and usage of this medium.
The report, the second of a three-part research series, found that nearly two in three advertisers (67%) are incorporating addressable advertising in their media campaigns. This is a marked increase from the first study, conducted in October 2021, which found that only half of marketers were using the medium.
Both studies had a sample size of 300 agency and brand advertisers.
The increase comes as interest – and adoption – of addressable advertising is growing. Per a Deloitte Global study, the sector is expected to reach U.S $7.5 billion dollars globally this year. Addressability was also a key theme during the most recent TV upfront season.
Other noteworthy findings from the report include:
Nearly half of teams responsible for addressable TV advertising cover both linear and digital planning, a vital and valuable approach considering that addressable can span traditional TV and CTV.
Among those currently using addressable TV advertising, the top reasons were:
48%: it provides better targeting
46%: ability to measure/prove ROI
37%: successful past performance
Molly Finnerty, SVP, Strategic Investment, Interpublic Group’s MAGNA Global: “Addressable advertising has become a vital component in our media plans, due to its ability to reach and engage with consumers in a more targeted way. For us, the driving factor has been the tangible ROI and a demonstrated history of success, which, in turn, has helped speed up adoption and usage among our client base.”
Matt Van Houten, SVP, Product, Operations & Business Development, DIRECTV Advertising: “This study captured what we’re seeing and hearing from our clients and in the marketplace. As an industry, it’s important we continue educating and raising awareness of addressable advertising’s value as we reach a critical moment in the medium’s future and growth.”
Kevin Arrix, SVP, DISH Media: “These latest findings reflect much of what we’ve been seeing in the industry. Momentum is building and advertisers are using addressable technology to maximize reach and frequency of their target audiences across their full video investment. Moving forward, awareness, education and proven impact will be the key drivers in the adoption of addressable TV. These are the core pillars behind Go Addressable.”
The full report can be accessed here