Go Addressable, an industry initiative created by television distributors to advance addressable advertising, today released new research findings – in conjunction with Advertiser Perceptions – that tracks the latest growth, adoption and usage of this medium.
The report, the final of a three-part series, found that 81% of advertisers said they are overall "satisfied" with the addressable TV advertising options today, up from 72% who expressed this sentiment last year. Additionally, 41% of marketers not currently using addressable TV advertising plan to do so in 2023. The number is a marked increase compared to just 25% surveyed at this time last year.
To compile the report, the two entities polled 300 brand and agency respondents, allowing them to capture real-time, industrypractitioner feedback. This latest installment yielded several noteworthy key insights, with the overarching takeaway being that 2023 looks to be a promising year – as far as interest, usage and momentum – for addressable TV advertising.
Other notable findings from the report include:
Another key indicator of addressable advertising's growth and adoption: Respondents noted that addressable advertising is now simpler to buy and both the number of options and cost to implement have improved. And 96% of those using the medium today said they are buying from either AVOD, programmers, OEMs or MVPDs. This points to the fact that marketers are working with multiple addressable providers to reach their audiences across different screens and services.
"We're thrilled to see that momentum is continuing to build behind addressable advertising headed into 2023," said Kevin Arrix, Senior Vice President DISH MEDIA. "These latest findings capture the industry's enthusiasm and adoption of addressable, which has become an increasingly important tool for advertisers to reach their audiences effectively and with tangible ROI."
Concurrently, the Go Addressable group surveyed its participating companies and found that the industry initiative has helped to enable a monthly average of 53 billion linear advertising minutes since the inception of GoAddressable in June 2021. (For context, there are more than 1.2 trillion minutes per month in linear advertising per minute, according to Nielsen.) All participants also indicated that inventory can grow with additional demand.
"This is a big moment in the history and future of addressable advertising," said Samantha Rose, EVP, Strategic Investment Lead, Horizon Media. "The medium is one of the most promising and topical ones in today's TV ad ecosystem. From ease of use to technical enablement to the number of options available, we've come a long way in unlocking the scale and potential behind addressable advertising, while doing so in a privacy focused way, and I look forward to what we, as an industry, can do to further its growth and evolution in 2023."
These latest research findings come as Go Addressable today hosts its second annual industry addressable advertising conference. This year's event takes place on Wednesday, November 16, in New York, with speakers spanning thought leaders from Publicis Media, GroupM, OpenAP, VideoAmp, Warner Bros. Discovery, LiveRamp and more. More information here.
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