From FAST to faster: the future of streaming TV
Industry leaders from LG Ad Solutions, Dentsu and Magnite explore the exponential rise of streaming TV and its future potential for advertisers, as part of a five-part video series.
Today’s consumers have an insatiable appetite for more content, but they don’t always have the appetite to pay for it. As a result, consumer attention is fast turning towards connected TV (CTV) and free ad supported streaming television (FAST) services – and it’s only going to go faster in 2023.
“If 2022 was the year of FAST, 2023 is where we’re going to go faster,” says Tony Marlow, global chief marketing officer, LG Ad Solutions. “There’s going to be more content, more eyeballs – CTV is white hot right now, from both a consumer perspective, but also the marketer perspective.”
CTV was one of the hottest topics on the ground at the Consumer Electronics Show (CES) in Las Vegas, where The Drum sat down with leaders from LG Ad Solutions, Dentsu and Magnite to explore how ad-supported CTV is a win for both viewers and advertisers. Watch the video series here.
“For decades, the most effective ad experiences have been on television,” says Keith Camoosa, chief addressability officer, Dentsu. “And with the shift of eyeballs to smaller devices, it’s been hard to replicate those ad experiences. Streaming brings back that full ad experience, and those ads tend to be more effective, they work harder. And if we make that addressable, it gives us new visibility into insights and how people are consuming streaming and apps on their TV.”
Thanks to advances in automatic content recognition (ACR) technology built into smart TVs, advertisers can gain deeper and richer full-scale insights into what people are watching, how their habits are changing and what that looks like on their screen. This second-by-second content viewership data allows advertisers to scale in a meaningful, quantifiable way while also putting consumer privacy first.
“CTV advertising is deterministic, it’s a unique data set and you’re able to grow,” says Esther Maguire, head of product marketing and strategy, LG Ad Solutions. “For performance driven marketers and advertisers, it has a lot of the same benefits that we also love with traditional digital performance, but it’s of the highest quality inventory.”
As a result, smart TV device manufacturers present a compelling offer for advertisers and media buyers. As Sean Buckley, chief revenue officer, Magnite explains: “We’ve increasingly seen their advertising businesses grow as one of the fastest growing segments in the market. The combination of their consumer offerings and FAST services paired with powerful first-party datasets is something that buyers in this space are finding really compelling.”
“We have first-party technologies and data, but the content is ultimately the key here,” says Serge Matta, head of commercial, LG Ad Solutions. “We have exclusive content that you can’t find anywhere else… then we provide that unique inventory, first-party data and incremental audience to advertisers – from a brand that everybody trusts.”
Tune in to watch the full series on ‘The future of streaming TV’ here on The Drum TV where the experts cover all of this and more, including predictions for where CTV is headed next.
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LG Ad Solutions
Global leader in connected TV advertising, helping brands find hard-to-get unduplicated reach at optimal frequency across the fragmented streaming TV landscapeFind out more