Innovid the First to Enable Self-Service Creation of Interactive CTV Ad Experiences for Live Streaming Events at Scale

Rhea-AI Summary

Innovid (NYSE: CTV) announced the industry-wide availability of the latest self-service feature within its CTV Composer authoring tool. Advertisers can now create interactive CTV experiences in-house, at scale, for live streaming events. The CTV Composer offers a catalog of plug-and-play formats, features, and dynamic creative strategies that can run across any streamed content on more than 25 CTV device types reaching nearly every household in the U.S. In Q4 2023 alone, CTV Composer created ads for nearly 700 campaigns, accounting for more than 202 million impressions.

Insights

Market Research Analyst

The recent announcement by Innovid regarding the industry-wide availability of its CTV Composer self-service feature presents a strategic advancement in the advertising technology sector. As advertisers seek to connect with audiences in more personalized and engaging ways, the ability to create interactive ads for live streaming events is significant. This innovation can potentially increase the effectiveness of ad campaigns, leading to higher conversion rates and better ROI for advertisers. Moreover, the scalability of this solution allows for a broader reach, tapping into the nearly ubiquitous presence of CTV devices in U.S. households.

From a market perspective, Innovid's move to enable in-house, scalable ad creation could disrupt traditional advertising agency models by shifting the creative process to the advertisers themselves. This could result in cost savings and increased control over ad content for brands. Additionally, the reported 202 million impressions in Q4 2023 indicate a substantial market penetration and a growing preference for digital advertising solutions that cater to the evolving consumption patterns of live content.

Financial Analyst

The financial implications of Innovid's CTV Composer for stakeholders, particularly advertisers and publishers, are multifaceted. By facilitating the creation of interactive and dynamic ads, Innovid is positioning itself to capture a larger share of the advertising spend transitioning from linear TV to digital platforms. The reported delivery of 1.3 billion ads per day underscores Innovid's robust platform capacity and could signal strong future revenue streams. Furthermore, the ability to deliver high-quality video at scale is critical in maintaining a competitive edge in the fast-growing CTV market.

For investors, the key metrics to watch would be the adoption rate of the CTV Composer tool and its impact on Innovid's market share and revenue growth. The reported 700 campaigns in Q4 2023 serve as an indicator of early traction, but long-term success will depend on continued innovation and the ability to meet the dynamic needs of advertisers in a 100% digital TV landscape.

Advertising Technology Expert

Innovid's CTV Composer represents a technological leap in the realm of connected TV advertising. The introduction of self-service capabilities for creating interactive ads is particularly noteworthy. Interactive ads, such as those with QR codes, not only enhance viewer engagement but also bridge the gap between advertisement and immediate action, such as making a purchase. This direct path to purchase is a game-changer for performance-driven advertising strategies.

The emphasis on personalization, utilizing data signals like game start times or player lineups, exemplifies the trend towards hyper-targeted advertising. This is a response to the growing demand for ads that resonate on a more individual level, which can significantly improve viewer experience and ad performance. The technological infrastructure required to deliver these personalized experiences at scale during live events is complex and Innovid's capability to handle such demands places it at a strategic advantage within the ad tech industry.

CTV Composer One of Many Solutions Innovid Offers to Empower Advertisers to Connect & Engage with Audiences as TV Moves to 100% Digital

NEW YORK--(BUSINESS WIRE)-- Innovid (NYSE: CTV), an independent platform for the creation, delivery, measurement, and optimization of advertising across connected TV (CTV), linear TV, and digital, today announced industry-wide availability of the latest self-service feature within its CTV Composer authoring tool. For the first time ever, brands and publishers can create interactive CTV experiences in-house, at scale, for live streaming events.

With live events increasingly migrating to streaming, advertisers can take creative experiences to the next level with engaging, personalized ads – from brand-building and retention ads to shoppable formats that drive direct engagement and conversions.

Innovid’s CTV Composer offers a catalog of plug-and-play formats, features, and dynamic creative strategies that can run across any streamed content on more than 25 CTV device types reaching nearly every household in the U.S. Advertisers can easily create interactive and dynamic ads that engage the viewer with elements like QR codes for a direct path to purchase, as well as showcase relevant messages based on data signals like game start times or lineups. While CTV Composer has historically been used for live streamed events with support from the Innovid team, advertisers can now build these types of campaigns in-house and at scale via the self-service functionality on Innovid’s platform. In Q4 2023 alone, CTV Composer created ads for nearly 700 campaigns, accounting for more than 202 million impressions.

Digitally delivering high volumes of impressions simultaneously is complex, which has challenged advertisers' ability to run advanced creatives at scale during live streaming events. Innovid’s advanced creative technology is built on the Innovid platform, which delivers over 1.3 billion ads per day and is designed to handle high-quality video at scale for the best possible creative experiences across streamed content, including live events.

“High-value live content, like sports and awards, have historically been pillars of linear – but that’s changing,” said Dan Mouradian, SVP, Global Client Solutions at Innovid. “As live events move to CTV, and TV becomes 100% digital, advertisers have a unique opportunity to engage audiences at scale with personalized, interactive formats. They now have the technology to accomplish it on their own. Innovid is solving for the challenges that arise with the concurrence of every viewer seeing ads and we have paved the way for mass personalization and interactive advertising during live events.”

To learn more about CTV Composer and how it can help advertisers and publishers as live events increasingly shift to streaming, visit www.innovid.com.

About Innovid

Innovid (NYSE: CTV) powers advertising delivery, personalization, and measurement across linear, connected TV, and digital for the world’s largest brands. Through a global infrastructure that enables cross-platform ad serving, data-driven creative, and measurement, Innovid offers its clients always-on intelligence to optimize advertising investment across channels, platforms, screens, and devices. Innovid is an independent platform that leads the market in converged TV innovation, through proprietary technology and exclusive partnerships designed to reimagine TV advertising. Headquartered in New York City, Innovid serves a global client base through offices across the Americas, Europe, and Asia Pacific. To learn more, visit https://www.innovid.com/ or follow us on LinkedIn or X.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240208533278/en/

Press



Caroline Yodice

cyodice@daddibrand.com



Megan Garnett Coyle

megan@innovid.com

Source: Innovid

FAQ

What is the latest self-service feature announced by Innovid (NYSE: CTV)?

Innovid announced the industry-wide availability of the latest self-service feature within its CTV Composer authoring tool, allowing advertisers to create interactive CTV experiences in-house for live streaming events.

How many campaigns did CTV Composer create ads for in Q4 2023?

CTV Composer created ads for nearly 700 campaigns, accounting for more than 202 million impressions in Q4 2023.

What is the reach of CTV Composer's plug-and-play formats?

CTV Composer's plug-and-play formats can run across any streamed content on more than 25 CTV device types, reaching nearly every household in the U.S.