New global report from Innovid highlights
sustained growth in CTV as retail advertisers prioritize reach and
performance
NEW YORK,
June 28,
2023 /PRNewswire/ -- Among retail advertisers,
connected TV (CTV) accounted for half (50%) of global video
impression share in 2022, an increase of nearly 52% compared to
2019. That's according to a new retail vertical benchmarks report
released today by Innovid (NYSE: CTV), an independent
advertising platform for the delivery, personalization, and
measurement of converged TV across linear, CTV and digital.
"Shifting consumer habits, combined with the
increasingly fragmented media landscape, have pushed retailers to
rethink their advertising strategies in order to stay competitive
in a saturated market," said Dave
Helmreich, Chief Commercial Officer at Innovid. "It's no
surprise that, as a result, CTV has taken a significant stake in
retail advertisers' media mix due to its ability to drive reach
alongside granular targeting. With the use of advanced creative
technologies like shoppable ads, coupled with customizable formats
for personalization (day, time, location, weather, etc.), retail
advertisers can better engage their target audiences at every step
of their individual journeys with more personalized ad experiences
at scale and, ultimately, drive business outcomes."
The report analyzed 23 billion global video
advertising impressions from retail advertisers served on Innovid's
platform in 2022 across devices (CTV, mobile, and desktop) to
provide a holistic view of how retail advertisers are leveraging
video advertising and adapting media and creative strategies. Key
findings from Innovid's platform include:
- CTV Stays Dominant in the Retail Media Mix: While CTV
has maintained the majority of total video ad impressions for the
last two years, mobile represented the second largest share at 32%,
followed by desktop at 18% in 2022.
- Dynamic Video Takes Flight: Retailers ran 39% more
dynamic video campaigns in 2022 compared to 2021, optimizing
creatives for personalization and increasing relevance based on
date, time, location, weather targeting, sequential messaging, or
publisher/third-party targeting.
- Interactive CTV Drives Engagement: Among retailers,
interactive CTV saw modest growth with 7.7% more advertisers
adopting the format in 2022 compared to 2021. It's worth noting,
however, interactive CTV was the clear performance winner, with the
highest engagement rate (1.9%) compared to standard video and other
advanced creative formats.
- Shorter is Sweeter for Retail Ad Engagement – but VCRs
Vary: For retail advertisers, ads under 10 seconds garnered the
most engagement, outpacing engagement of the second highest length
(15 seconds) by 20%. But, despite ads 75 seconds or longer, all
lengths had solid video competition rates (VCRs) – averaging around
86%.
For more information on Innovid and to download
the full report, please visit here.
About Innovid
Innovid (NYSE:CTV) powers advertising delivery,
personalization and measurement across linear, connected TV (CTV)
and digital for the world's largest brands. Through a global
infrastructure that enables cross-platform ad serving, data-driven
creative, and measurement, Innovid offers its clients always-on
intelligence to optimize advertising investment across channels,
platforms, screens, and devices. Innovid is an independent platform
that leads the market in converged TV innovation, through
proprietary technology and exclusive partnerships designed to
reimagine TV advertising. Headquartered in New York City, Innovid serves a global client
base through offices across the Americas, Europe, and Asia
Pacific. To learn more, visit https://www.innovid.com/ or
follow us on LinkedIn or Twitter.
Media Contact
Caroline Yodice
cyodice@daddibrand.com
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SOURCE Innovid