8th December 2021
The amount of channels on TV is increasing, mainly due to the addition of external platforms of OTT and CTV. Both CTV (Connected TV) and OTT (over-the-top) services are delivered to the viewers via the internet. Some examples of OTT platforms are Netflix, Disney+, Amazon Prime whereas an example of a CTV is Apple.
The TV experience has massively changed due to these add ons coming into play. TV viewership is slowly on decline, especially in the younger generations whereas the use of the internet based add ons is on the rise. So, is it time for television advertisement to be finally on its way out? What is in future of TV adverts?
TV Changed Drastically in 5 years
TV changed drastically in 5 years. Its use increased vastly with the introduction of channels like SKY TV, which gave advertisers the opportunity to promote their products to an increased audience. But then, with the introduction of the internet to the market, competition rapidly increased.
Now, although a lot of older generations still watch TV, the younger ones are shifting to other platforms. This could mean that TV is a great space to to target the older demographics.
The Need of Flexible Evolution Of TV
It is time for the TV to become more flexible in order to remain competitive. It is time for the TV to be able to reflect the world of the internet and digital platforms. And these changes should happen soon as the TV revenue has already fallen drastically due to the pandemic. Plus, people’s preferences are shifting towards streaming services.
More and more advertisers want programmatic buying options
The main problem with TV advertising is that brands have to choose the best time and place to broadcast their TV adverts manually. This costs them time and money. Consequently, the demand for new automated technologies able to identify which channels and times are the best to reach a specific audience is increasing. Thus, if the TV wants to meet the needs of the current market, it will have to make some changes.
Bring on Television Addressability Advertising
In an industry like television, for tv advertisement to stay afloat, the new strategy that is coming to addressability is being able to tailor the advertisements to an individual’s screen.Addressable TV is slowly being rolled out across various systems. Although it requires intelligent data systems to be available for each platform.
This brings better opportunities for TV commercial production companies to easily target the key audiences and still meet the needs of advertisers of having the options of programmatic buying options in the future.
This TV addressable functionality is slowly being implemented across the British television landscape. Below is what is available so far within the television providers in addressable TV advertising.
After reading this blog about the future of TV adverts, you should have a better understanding of what should be done for the the TV to stay afloat. Would you like to learn more about this topic, do not hesitate to get in touch.