The findings come as a survey of the Go Addressable group reveal that the industry initiative has helped to enable a monthly average of 53 billion linear advertising minutes.
Go Addressable kicks off its second annual industry addressable advertising conference in New York today.
Go Addressable, an industry initiative created by television distributors to advance addressable advertising, today released new research findings – in conjunction with Advertiser Perceptions – that tracks the latest growth, adoption and usage of this medium.
The report, the final of a three-part series, found that 81% of advertisers said they are overall “satisfied” with the addressable TV advertising options today, up from 72% who expressed this sentiment last year. Additionally, 41% of marketers not currently using addressable TV advertising plan to do so in 2023. The number is a marked increase compared to just 25% surveyed at this time last year.
To compile the report, the two entities polled 300 brand and agency respondents, allowing them to capture real-time, industry practitioner feedback. This latest installment yielded several noteworthy key insights, with the overarching takeaway being that 2023 looks to be a promising year – as far as interest, usage and momentum – for addressable TV advertising.
Other notable findings from the report include:
- 77% of marketers who have used the medium said they are satisfied with the measurement solutions available for addressable TV.
- 37% of those currently using addressable advertising said they plan to increase their ad spend in it in 2023.
Another key indicator of addressable advertising’s growth and adoption: Respondents noted that addressable advertising is now simpler to buy and both the number of options and cost to implement have improved. And, 96% of those using the medium today said they are buying from either AVOD, programmers, OEMs or MVPDs. This points to the fact that marketers are working with multiple addressable providers to reach their audiences across different screens and services.
“We’re thrilled to see that momentum is continuing to build behind addressable advertising headed into 2023,” said Kevin Arrix, SVP, DISH Media. “These latest findings capture the industry’s enthusiasm and adoption of addressable, which has become an increasingly important tool for advertisers to reach their audiences effectively and with tangible ROI.”
Concurrently, the Go Addressable group surveyed its participating companies and found that the industry initiative has helped to enable a monthly average of 53 billion linear advertising minutes since the inception of GoAddressable in June 2021. (For context, there are more than 1.2 trillion minutes per month in linear advertising per minute, according to Nielsen.) All participants also indicated that inventory can grow with additional demand.
“This is a big moment in the history and future of addressable advertising,” said Samantha Rose, EVP, Strategic Investment Lead, Horizon Media. “The medium is one of the most promising and topical ones in today’s TV ad ecosystem. From ease of use to technical enablement to the number of options available, we’ve come a long way in unlocking the scale and potential behind addressable advertising, while doing so in a privacy focused way, and I look forward to what we, as an industry, can do to further its growth and evolution in 2023.”
These latest research findings come as Go Addressable today hosts its second annual industry addressable advertising conference. This year’s event takes place on Wednesday, November 16, in New York, with speakers spanning thought leaders from Publicis Media, GroupM, OpenAP, VideoAmp, Warner Bros. Discovery, LiveRamp and more. More information here.
Click here to read the latest Go Addressable/Advertiser Perceptions report.
About Go Addressable
Go Addressable is an industry inclusive initiative led by TV distribution companies (Altice USA’s a4 Advertising, Charter Communications’ Spectrum Reach®, Comcast, Cox, DIRECTV Advertising, DISH Media and VIZIO) to help maximize the scale, impact and value of TV as a marketing platform. The group’s mission is to further accelerate the advancement of addressable TV advertising in a way that is trusted, scalable and effective for both advertisers and programmers looking to make their inventory addressable. Go Addressable will achieve this through advocacy and education within the industry; problem-solving and action around industry challenges; and by working to facilitate the use of addressable advertising campaigns for buyers and sellers of TV inventory. For more information on how to participate, please visit goaddressable.com.
About Advertiser Perceptions
Advertiser Perceptions provides research-based strategic market intelligence and expert analysis to the media, advertising and ad tech industries. We survey brand marketers, agency executives, media specialists and IT leaders through our curated and proprietary Ad PROS™ community to provide clients with an unbiased view of the market, competing brands, and customer experiences. These actionable insights give clients the confidence to inform both strategic and operational decision-making to improve their products and services, strengthen their brands, and drive higher ad-related revenue. www.advertiserperceptions.com