Jason Fairchild, CEO and cofounder at tvScientific talks about why CTV ad spends will increase down the line in this quick chat with MarTech Series.
How do you feel the future of TV advertising is set to grow in comparison to online advertising?
TV advertising is a $72 billion market and the fastest growing segment of it is CTV advertising. There is a revolution happening within TV advertising, traditionally it has been dominated by roughly 300 national advertisers, but with new connected devices, advertising technology is integrating with these platforms to make ads on CTV accessible and measurable for all businesses. With companies like tvScientific bringing the best capabilities of digital marketing to TV, I’m sure we’ll see a significant amount of online advertising dollars move there.
Can you talk about the importance of TV advertising in today’s largely digital-first world and why advertisers / marketers should include this as part of their media mix?
I believe CTV ad spend will more than double in the next year because of the changes happening with online advertising (Apple IDFA and with the removal of cookies in ‘22). These changes will materially impact social and display ad spend, in addition to the fact that search pricing is maxed out, so the only channel that represents sufficient scale to move the needle for large marketers is CTV, which has seen massive growth numbers and is now as measurable as search and social for marketers that engage in ROAS media buying. Marketers should be aggressively testing measurable CTV now.
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