Magnite Research Finds Americans Are Actively Planning Vacation Travel and CTV is Key to Reaching Travel Decision-Makers
April 27 2021 - 8:00AM
Magnite (Nasdaq: MGNI), the world’s largest independent omnichannel
sell-side advertising platform, released a study that surveyed over
900 American travel decision-makers about their vacation plans. The
report, titled “The Great Escape,” shows not just that Americans
are actively planning their first trips in more than a year, but
that CTV advertising is a critical medium for influencing their
travel choices.
Americans are eager to travel and are actively
planning
The study found that there is pent-up demand for travel and most
respondents are confident they will be able to do so safely in the
near future. 84% percent are optimistic that the improving pandemic
situation will allow them to travel safely this year. Nearly the
same percentage (83%) are already actively planning summer and fall
trips. These conclusions are in line with Longwoods International’s
figure that 87% of Americans have travel plans within the next six
months - the highest level in more than a year.
Air travel and hotels are part of the plan
77% of respondents said they are planning to fly once or more in
the next year, and a large majority (86%) favor staying at a hotel,
resort or motel when they reach their destinations. Nearly all
respondents are planning at least one road trip with an average
distance of 350 miles.
Travel ads on CTV are trusted, inspirational and
effective
As Americans plan their travels, CTV is one of their primary
sources for trusted information. 59% of respondents said they are
more likely to consider a travel brand advertised on CTV than on
traditional television, and more than half (56%) of respondents
said travel ads on CTV are a key source of inspiration, information
and ideas.
The research showed that CTV is effective at driving consumer
action. 65% percent of respondents said they visited an
advertiser’s website after seeing a travel ad on CTV. And nearly
three-fourths (74%) took two or more actions after seeing a CTV ad
- such as discussing the ad with someone or conducting further
research.
“Our research shows that a vacation travel resurgence is coming,
and many Americans are finally feeling safe enough to fly and stay
in hotels,” said Adam Lowy, Head of North American CTV Demand Sales
and Strategy at Magnite. “What’s more, people are actively planning
their trips now, and they were clear that they are influenced by
travel ads streamed on connected TVs, often more than those on
traditional television, and they’re highly likely to drive them to
take action. When you consider that according to eMarketer, more
than a third of Americans are unreachable via traditional
television, the study shows how CTV should be a key part of every
travel advertiser’s media plans.”Additional key findings
include:
- Digital video ads are essential for travel discovery. Nearly
three-fourths (74%) of respondents said digital video ads have
allowed them to learn about travel opportunities they probably
would not have known about otherwise.
- Ad receptivity correlates to content quality as 69% of
respondents said they are open to watching ads on streaming TV
because they are getting access to high-quality TV shows and
films.
- Video is a key part of the travel research process with 65% of
respondents saying they almost always watch a digital video of a
travel destination before booking a trip. The study also found that
professionally produced ads are nearly three times more effective
than user-generated content in encouraging viewers to take action
after viewing the ad.
To explore additional insights, please click here.
Methodology
Magnite engaged Lucid for an online survey of 903 travel
decision-makers who intend to travel within the next 12 months and
subscribe to or share at least one advertising-supported streaming
service (e.g. Pluto TV, Sling TV, Discovery). The survey was
conducted from March 12 to March 17, 2021. Sample was balanced for
age and gender.
About Magnite
We’re Magnite (NASDAQ: MGNI), the world’s largest independent
sell-side advertising platform. Publishers use our technology to
monetize their content across all screens and formats—including
desktop, mobile, audio and CTV. And the world's leading agencies
and brands trust our platform to access brand-safe, high-quality ad
inventory and execute billions of advertising transactions each
month. Anchored in sunny Los Angeles, bustling New York City,
historic London, and down under in Sydney, Magnite has offices
across North America, EMEA, LATAM and APAC.
ContactsKar Yi
Lim917-658-1994klim@magnite.com
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