Innovid said that connected TV continues to grow its share of digital video impressions and that it offers advertisers an opportunity to run enhanced ads that generate more attention from consumers.
According to Innovid’s The CTV Advertising Insight Report 2024, CTV accounted for 53% of video impressions, up 12% from a year ago.
The average reach of CTV campaigns is 20.16% of Innovid’s 95 million CTV households, which more than doubled compared with two years ago.
This surge is due to a combination of more viewers watching CTV and brands running more and larger CTV advertising campaigns, Innovid said. “Even with this strong growth, CTV viewership — and reach — is expected to continue to increase.”
With more viewers using multiple streaming providers, the unique reach gained by adding 10 or more publishers has declined significantly since 2021, dipping to 62% in 2023 from 82% two years ago.
This indicates that as more consumers subscribe to multiple streaming platforms, advertisers can sometimes find a shorter path to building unique reach, Innovid said.
With CTV viewers spend more time with advanced ad formats. Interactive ads garners an average of 92 additional seconds of time watched compared to standard pre-roll video ads. Dynamic ads personalized for the viewers, generated more than 38 seconds of additional time watched.
Interactive ads enable consumers to engage on screen through elements such as expandable learn-more galleries or add-to-cart QR codes, which have an overall scan-rate of 0.02%, Some with advertisers sawscan-rates that approach 5%.
“Advertisers are realizing the true power behind the measurable, impactful, and innovative ad experiences that only CTV can provide,” said Dani Cushion, CMO at 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.”
Innovid the sweet spot for video advertising in terms of length tends to be about 15 to 30 seconds.
Advertisers should carefully consider the length of their videos — and the attention span of their audience, Innovid said.
Across CTV, mobile, and desktop, videos that are 15 to 30 seconds in length deliver the highest video completion rates. The click-through rates for mobile and desktop videos that are 15 to 30 seconds are also the top performers.
