More marketers believe TV is now more than just traditional linear
Media buyers globally are looking to break free from rigid legacy approaches that no longer meet their needs, and toward currencies and practices that support a cross-platform TV ecosystem.
56% of respondents cited ‘transparency of metrics’ as a ‘very important’ factor for investing in converged TV
In Australia, 91% of respondents agree that ‘TV’ is now defined as linear and streaming platforms, and 88% indicate that TV should be sold on impressions, according to TVSquared’s ‘The State of Converged TV: A Look at Global Trends & Adoption’ report.
“With viewers dispersed across platforms and screens, TV has been redefined to encompass both linear and streaming,” said Calum Smeaton, chief executive officer of TVSquared.
“There is a shared passion, across the industry, to support converged TV strategies with measurement innovation and more flexible, transparent practices that empower advertisers to reach their total TV audience.”
What did the study find?
56% of respondents cited “transparency of metrics” as a “very important” factor for investing in converged TV, followed by “ability to optimize for performance across TV buys” (47%) and “ability to measure incremental reach beyond linear” (46%).
While 85% indicated that achieving cross-platform TV measurement and attribution is a top priority for adopting converged TV strategies, 49% stated its accuracy was also a top challenge.
94% of respondents agree that TV needs to be more flexible and easier to transact across linear and streaming.
40% of Australian respondents currently allocate between 16-25% of their total TV budget to CTV.
40% also currently advertise across three to five platforms, with 26% indicating they will advertise on six or more in 2022.
The top three data sources being used by Australian marketers to inform converged TV campaigns are online data for attribution (58%), first-party customer data (39%) and offline data for attribution (35%).
The top three KPIs for converged TV were optimizing reach (45%), brand awareness/maximum exposure (44%) and incremental audience reach (42%).