With the announcement that Netflix will launch an ad-supported subscription tier in November, it’s only natural that marketers would jump at the opportunity to get their brands in front of what could be tens of millions of subscribers. But don’t act too fast—more effort is required.
Connected TV (CTV) is seeing exponential growth in ad spend—from $15.2 billion in 2021 to an estimated $21.2 billion in 2022. Even though the market is still in its infancy as an advertising vehicle, marketers are treating CTV as a neglected child, mostly because the creative isn’t doing the vehicle justice.
And marketers who have turned to CTV have yet to tap into its enormous potential—often repurposing traditional video ads without regard for CTV’s full feature set and functionality. In fact, this situation is comparable to social media advertising 10 years ago, when TV and print ads were often simply repurposed for social platforms. There was a lot of waste in spending because the message didn’t live up to the medium.