NEW YORK—Connected TVs (CTV) managed to do alright for itself in 2020 when it came to ad impressions, according to the latest report from Innovid. The fall 2020 edition of Innovid’s U.S. Video Benchmarks Report shared that CTV ad impressions grew 55% year-over-year from 2019 for the third quarter and is the only device that gained more video ad impressions so far during the year.
CTV’s ad impression share as of 2020 now sits at 41%, a 23% increase year-over-year from its 33% share in 2019. It now is second behind mobile in terms of largest share by device, trailing by only two percentage points. Mobile leads the way in advanced video impressions (personalized or interactive), garnering a 27% increase year-over-year, while CTV dominates standard video impressions (56% growth year-over-year).
“The onset of the coronavirus pandemic drove massive cord-cutting behavior, with advertisers following audiences,” said Jessica Hogue, general manager, Measurement & Analytics for Innovid. “In April, even when marketers were grappling with budget cuts and changes to creative, Innovid saw a 22% year-over-year increase in CTV ad impressions while video declined overall by 14%. This growth continued, with a 58% year-over-year increase in September.”
However, Innovid’s findings show that audiences want what the advanced video impressions offer. Ads with interactive elements had a 14x engagement rate over the next highest ad type. CTV does have the highest completion rates for ads among all other devices.
Hogue advises that CTV is still a growing market, and that brands, agencies and publishers need to be focused on how measurement, identity, interactive formats and programmatic buying will develop over the next 12 months.
For more information, the full Innovid report is available online.
