Converged TV measurement firm TVSquared has released a report that suggests media buyers are looking for a more diverse TV ads ecosystem that includes converged TV.
The report, “The State of Converged TV: A Look at Global Trends & Adoption,” was compiled in conjunction with third-party research firms, Dynata and Advertiser Perceptions.
As the first global view on converged TV, the report represents survey insights from nearly 1,000 buyers across the UK, Germany, Australia and the U.S.
TVSquared sees appetite for converged TV
Report findings support an increasingly global sentiment to break free from rigid legacy approaches that no longer meet the needs of modern marketers, and toward currencies and practices that support a cross-platform TV ecosystem.
In the UK, 90% of respondents agree that “TV” is now defined as linear and streaming platforms, and 89% indicate that TV should be sold on impressions.
To fully realise the power of converged TV, key UK survey highlights support the need to move past legacy models and toward a more holistic, flexible converged TV marketplace.
Nearly 50% of respondents cited “ability to holistically manage linear and streaming performance” as a “very important” factor for investing in converged TV, closely followed by “ability to measure performance accurately at scale” and “transparency of metrics.”
Some 89% indicated that achieving cross-platform TV measurement and attribution is a top priority for adopting converged TV strategies; 47% stated its accuracy was also a top challenge.
Moreover, 94% of respondents agree that TV needs to be more flexible and easier to transact across linear and streaming.
As CTV adoption steadily increases, TV investments and planning look set to become more diverse, according to the report.
Emerging converged TV strategies in the UK today:
- A third of UK respondents currently allocate between 16-25% of their total TV budget to CTV.
- 45% currently advertise across three-to-five platforms, with 35% indicating they will advertise on six or more in 2022.
- The top three data sources being used by UK marketers to inform converged TV campaigns are online data for attribution (56%), first-party customer data (46%) and offline data for attribution (36%).
- The top three KPIs for converged TV were optimising reach (49%), optimising frequency (42%) and incremental audience reach (40%).
“With viewers dispersed across platforms and screens, TV has been redefined to encompass both linear and streaming,” said Calum Smeaton, CEO, 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.”
The report also analysed billions of ad impressions across 20 converged TV campaigns active on TVSquared’s ADvantage platform to uncover insights on incremental reach and how to best approach converged TV strategies.