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Magnite’s “CTV Is for Everyone: US 2021” study finds ad-supported programming is becoming the primary way Americans watch CTV
NEW YORK, Oct. 25, 2021 (GLOBE NEWSWIRE) -- Magnite (NASDAQ: MGNI), the world’s largest independent omnichannel sell-side advertising platform, today released its “CTV Is for Everyone: US 2021” report. The study of 1,200 consumers across the US explores the opportunity for marketers to engage with CTV audiences which are now more reflective of the general population in terms of age, race, and other factors than traditional TV.
“CTV is now much more than just an audience extension tool or an add-on to a linear buy because it’s clear that a large portion of TV viewers have shifted their attention in favor of CTV,” said Sean Buckley, Chief Revenue Officer, CTV of Magnite. “While traditional TV audiences have become more homogeneous, CTV viewers encompass a representative cohort of ages and backgrounds. Our goal in conducting this research is to help media owners and advertisers understand how they can reach CTV viewers effectively, authentically, and respectfully.”
CTV Audiences Are More Reflective of the US Consumer
CTV reaches a balanced mix of age groups, matching the national profile, whereas traditional TV skews heavily in the 55+ range and under-delivers across all other groups. Similarly, CTV mirrors America’s racial diversity profile whereas the traditional TV audience skews white and consequently under delivers against Black, LatinX, and Asian audiences.
CTV Viewing Increased Significantly Compared to Traditional TV
The latest findings show that 55 million households only watch CTV, meaning 40% of US TV households are only reachable via CTV. Over the past 12 months, viewing time increased 44% for CTV households versus just 29% for linear TV households.
CTV Advertising Value Exchange
The study found that 90% of CTV viewers watch ad-supported programming and ad-supported content is now watched nearly as much as ad-free content (47% versus 53%). CTV viewers are more willing to share information to receive relevant ads compared to traditional TV viewers (47% versus 28%). Engaged viewers on CTV expressed they were twice as likely to buy a product after seeing an ad they paid attention to.
Additional findings from the report include:
CTV viewing households are more likely to own other digital devices including smartphones, tablets, laptops and gaming consoles, compared to traditional TV viewers. Interestingly, 36% of traditional TV viewers watch via a Smart TV.
Video on social media platforms is a less effective means of reaching consumers who also watch CTV. 60% of CTV users who also use social media platforms aren’t watching professionally produced content such as TV shows and movies – they typically watch CTV for that type of content. Only 21% of CTV users reported that they are likely to pay attention to a video ad on social media.
To explore additional findings in the full report, please click here.
Magnite commissioned Statista, a world-renowned research partner, to conduct an online survey of 1,200 people in the US aged 18+ who declared that they watched television at least one hour per day. We surveyed three viewing types: traditional TV-only (those who only watch cable/satellite), CTV-only (those that only watch streamed TV), and other (those that watch a mix of traditional TV and CTV) in the month of June.
We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising platform. Publishers use our technology to monetize their content across all screens and formats including CTV, online video, display, and audio. The world's leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. In April 2021 we acquired SpotX to further enhance our CTV business and better help our clients in this rapidly growing market. Anchored in sunny Los Angeles, bustling New York City, mile high Denver, historic London, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.
Kar Yi Lim