Innovid: CTV Accounted for More than Half of Video Ad Impressions in 2023

 Money.
Money.

NEW YORK—Innovid has released a new study that highlights the importance of CTV advertising in the media landscape and offers extensive data showing the effectiveness of CTV campaigns, with interactive CTV campaigns achieving engagement rates 4.6x higher than mobile video and 10.3x higher than desktop video.

When compared to standard pre-roll, interactive CTV video formats, inclusive of choice- and non-choice-based ads, also generate more than 600% lift in engagement, the study found.

“Advertisers are realizing the true power behind the measurable, impactful, and innovative ad experiences that only CTV can provide,” said Dani Cushion, CMO, Innovid. “As TV rapidly shifts to a 100% digital future, the time is now for advertisers to optimize every aspect of their campaigns for streaming. The opportunities for reach, engagement, and ROI are unparalleled.”

The data is from “The CTV Advertising Insights Report 2024: Your Data-Driven Source for CTV Performance Trends.” For the study Innovid analyzed nearly 380 billion global video ad impressions served on its platform in 2023.

Key findings reflect an industry speeding toward a 100% digital TV future. Those include:

  • CTV growth continues to surge: CTV accounted for 53% of video impressions – up 12% compared to the year prior. Additionally, the average CTV campaign reach in 2023 more than doubled compared to two years prior.

  • Frequency is rising, but it’s a double-edged sword: The average frequency delivered has increased by almost 80% – up from 4.08 to 7.40 – over the past two years. While it’s important for marketers to have their ads viewed multiple times for awareness, recall, and engagement, it’s also critical to find the right balance before hitting the point of oversaturation.

  • Viewers spend time with advanced creatives: Audiences expect relevant, 1:1 content – even with ad experiences – and it shows with the amount of time they spend with advanced creatives. Interactive ads had an average of 92 additional seconds of time earned vs. standard pre-roll video. Dynamic ads, those personalized to the viewer, generated more than 38 seconds of additional time earned.

The full report is available here.