Survey Finds High Intent to Start Using or Spend More on Addressable TV

 The following article speaks to what is "Addressable TV." Most of we in the business know what we think it is...but here is another good definition to make sure we are straight about it: Philip Jay LeNoble.

Addressable TV advertising is the ability to show different ads to different households while they are watching the same program. With the help of addressable advertising, advertisers can move beyond large-scale traditional TV ad buys, to focus on relevance and impact.

Survey Finds High Intent to Start Using or Spend More on Addressable TV

• by Karlene Lukovitz  @KLmarketdaily, Yesterday

Based on its latest survey of marketer and agency executives, the addressable TV education and advocacy group Go Addressable is reporting advances in intent to use or spend more on the buying option in the year ahead, as well as increased satisfaction with it. 

Advertiser Perceptions’ third annual survey for Go Addressable found 40% of current addressable users reporting that they plan to spend more on addressable in 2024. That compares to 34% and 37% reporting intent to spend more in the 2021 and 2022 surveys, respectively. 

It also found 50% of current non-users saying they intend to start using addressable next year — up from 25% expressing intent to start when asked in 2022. 

The online survey of 305 U.S.-based executives whose organizations plan to spend at least $1 million on advertising in the next 12 months was fielded online Oct. 2-9. All are involved in media-selection decisions for brands. Of the total, 160 were current users of addressable, 68 were not, and 77 were not using linear TV advertising at all. The two earlier annual surveys also involved about 300 respondents with the same criteria for qualification.

Looking at perceptions, 85% of respondents said they’re satisfied with addressable TV advertising opportunities — up from 72% and 81% in the 2021 and 2022 surveys, respectively. 

More than half (53%) said they believe addressable is improving overall year over year, 59% said that measurement has improved, 54% that scale has improved, and 49% that overall options have improved. 

In addition, 48% and 38%, respectively said that simplicity of buying and cost to implement have improved. 

Based on a separate survey with its members, Go Addressable also estimates that addressable has driven an average 68 billion linear advertising minutes per month since the group’s launch in 2021. (According to Nielsen, there are more than 1.2 trillion minutes per month in total live linear advertising per minute.) 

Paramount has just joined as the first programmer member of Go Addressable. It joined pay-TV distributor founding members including Altice USA’s a4 Advertising, Charter Communications’ Spectrum Reach, Comcast Advertising, DirecTV Advertising and Dish Media. 

The survey results are being shared during Go Addressable’s annual summit today in New York. 

Go Addressable also announced that Larry Allen, vice president and general manager of data and addressable enablement at Comcast Advertising, has been named board chairman for the trade organization.