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CTV Trends to Follow in 2024

Entertainment is entering a digital age of streaming across all platforms. Connected TV (CTV) allows marketers to reach specific audiences whenever and wherever they want while tracking their purchase behavior in response to advertisements.

This innovative technology is constantly shifting and changing as it becomes one of the main forms of advertising. The WebFX team of digital marketing specialists is here to walk you through CTV trends in 2024 so you can build a highly effective advertising campaign. 

Keep reading to explore the digital world of CTV advertising, and remember to subscribe to the WebFX digital marketing newsletter for weekly insights.

What is CTV?

CTV is a cable alternative to stream digital video content on a personal television, whether through a smart TV or streaming device. For example, Samsung sells smart TVs while devices like the Roku box or PlayStation 5 provide streaming video via Internet connection.

Research shows that 80% of households in the United States have a minimum of one CTV device. This fact provides a wide range of opportunities for digital marketers and advertisers to reach a growing audience.

Examples of CTV devices include:

  • Xbox
  • Amazon Fire
  • Apple TV
  • PlayStation
  • Roku

The difference between CTV and OTT

An over-the-top (OTT) media platform is a service that lets the user stream across various devices such as smartphones, tablets, laptops, computers, and smart TVs. Any device with an Internet connection is an option for OTT.

CTV, on the other hand, only refers to television sets. In that sense, CTV arguably fits beneath the OTT umbrella, but not all OTT platforms qualify as CTV.

Examples of popular OTTs include Netflix, Hulu, Disney+, and more.

Benefits of CTV advertising

CTV is a unique advertising opportunity for modern marketers as streaming services and devices continue to see tremendous growth. Three of the main benefits of marketing via CTV include:  

  • Audience metrics: CTV allows for precise audience targeting based on factors like location, language, and activity level. 
  • Ad completion: CTV also has high ad completion rates since most streaming services don’t allow skipping. This advantage is a significant opportunity to have your content seen by your audience. 
  • Data: IP addresses and watch history allow you to collect valuable information on individual audience members and smaller demographic targets. You can even track how many users visited your website as a result of an ad and took a purchase action.

Types of CTV ads

Most major companies have created and profited from CTV ads. Marketers have developed three main types of CTV ads:

  • Interactive ad: Interactive ads allow users to take action with their remote, such as entering a landing page. 
  • In-stream video ad: In-stream ads are typically unskippable and play before a piece of content, during a commercial break for the content, or after. These ad spots are typically up to 30 seconds long. 
  • Home screen ad: While a user is searching for a TV show or movie, ads will often display on the home screen of a streaming platform.

Want to see how these ads look in practice? Check out these examples of CTV ads!

Top 4 CTV trends to watch

Several significant trends are emerging in CTV advertising as this new format grows. This guide explores four of the most influential trends that can transform how you advertise.

1. Premium inventory

One of the key trends for CTV is combating fraud with a premium inventory. Streaming television is one of the world’s largest markets, but concerns come with growing opportunities. 

Brand owners have little control in open exchanges since ads can run almost anywhere and cause brand safety and transparency issues. Curated aggregators can help since they serve as brokers to access brand-safe inventory to reach the right audience at scale. 

2. Advanced attribution

New technology allows advertisers to understand how their CTV ads influence customer behavior. Advertisers can directly match sales data with exposure to ads to learn in-depth insights about the success of their campaigns.

For example, Disney World can track user response to an ad to determine their point of origin, the distance they’re traveling, the length of their stay, and repeat visits.

3. New adopters

CTV is currently trending with traditional TV and mobile advertisers since regulations on cookies do not limit this medium. CTV channels allow marketers to tap into offline data sources to analyze their audiences and create marketing campaigns with advanced strategies centered on data. 

CTV advertisers were typically traditional TV advertisers trying to expand their audience in the past. Now, digital marketers across industries are transitioning to this format since formats like social media don’t offer as sophisticated targeting.

4. CTV ad formats

Advertisers are becoming increasingly creative with developing new CTV ad formats to hold attention and drive conversions. For example, some ad campaigns use a storytelling format where the advertiser breaks the ad into interconnected shorts across several commercial breaks.

There are also advertisers implementing QR codes users can scan on a mobile device to learn more about a product or take action online.

WebFX is a Partner in Driving Results

Hear from HydroWorx, who saw a 131% increase in organic forms by partnering with WebFX

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Target high-value leads with CTV advertising solutions from WebFX

The world of CTV advertising provides a wide range of opportunities for digital marketers to target customers with tailored advertising. If you’re unsure where to begin, the CTV experts at WebFX are here to help! 

When you choose WebFX for CTV solutions, you’ll gain access to an award-winning team of more than 500 ad experts. We’ll walk you through the development, implementation, and management of a CTV advertising campaign customized to your business goals. A dedicated account manager will guide you at each step of the process with regular meetings and transparent reporting.

Ready to take the next step? Connect with a WebFX strategist by calling 888-601-5359 or reaching out to us online. You can also learn more about how our CTV advertising services can boost your digital marketing returns today!

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