Although advertising budgets allocated to connected TV remain modest in the US, nearly half (48%) of advertisers who do use the medium plan to spend more on it next year, according to a new industry report. Based on responses from 215 client-side marketers, including 51% at director level and above, the Association of National Advertisers (ANA) concluded that spend on connected TV is set to increase.
Its Connected TV Opportunity report was conducted with BrightLine, a company which creates digital ads for connected TV, and it found the budgetary shift to connected TV is likely to come from other TV activity (71%) and digital media (37%). This industry trend is a response to the growing popularity of connected TV – defined as OTT platform based devices that include smart TVs and over-the-top (OTT) devices, such as Amazon Fire TV and Apple TV. More than half of all US households (56%) currently have a connected TV device, the report said, while viewing on OTT streaming devices grew 380% in the first quarter of 2015 compared to the same period last year.
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