In the fast-paced world of digital advertising, staying ahead of the curve is essential for businesses looking to capture consumer attention. With advertisers continuously evolving their strategies to align with changing consumer behavior, 2024 promises to be an exciting year for CTV advertising. Here are several 2024 trends in Connected TV advertising that you need to keep an eye on if you want to set your brand apart from the competition.
1. Increased Ad Spending – As viewership has increased, more and more marketers have shifted their strategies to Streaming TV. In 2024, it’s estimated that Connected TV advertising spending will exceed $31 billion dollars. With more and more viewers and advertisers shifting to Streaming, now is the time to consider leaving traditional TV behind.
2. Ad-Supported Free Streaming – A recent report indicated that ad-supported streaming apps have seen a 55% increase in share of time spent. Platforms like Pluto TV, Fubo TV, and more have grown to become a prime environment for advertisers to reach their target audience and are poised to continue that trajectory.
3. Personalized Creative – Connected TV enables advertisers to create personalized ad experiences tailored to viewers' preferences, demographics, and behaviors. Creating commercials tailored to segments of your audience is an effective way to ensure you’re breaking through the noise.
4. Advancements in Technology – A.I. is a topic at the forefront of many marketers' minds across all platforms, and Connected TV is no exception. At Awarity, our platform implements automated A.I. optimizations for all campaigns to help achieve greater efficiency.
As we continue into 2024, Connected TV is prepped to take a larger role in the strategies of many marketers. At Awarity, we can help you make sense of the evolving Connected TV advertising space and create an effective Connected TV strategy that meets your unique goals. If you’re interested in learning more about Connected TV, let’s chat.
