NEW CPG STUDY: CTV Devices Account for Over Half of Global Video Impressions in CPG Vertical, Up from 44%

Rhea-AI Summary

Innovid (NYSE: CTV) has released its first Consumer Packaged Goods (CPG) report, highlighting the significant role of connected television (CTV) in video advertising. CTV now accounts for 52% of video ad impressions among CPG advertisers, surpassing mobile and desktop formats. The report indicates that the pet supply sector leads with a 70% CTV impression share. It also notes the effectiveness of advanced creative formats, achieving a 98.6% video completion rate. With only 12% of Innovid's CTV households reached, there's substantial room for growth in CTV advertising.

Positive

• CTV's share of video ad impressions among CPG advertisers increased to 52%, up from 44%.
• Advanced creative formats led to a high video completion rate of 98.6%.
• CPG brands using DCO formats saw better engagement compared to standard video ads.
• Only reached 12% of Innovid's 95 million CTV households, indicating significant growth potential.

Negative

• None.

Innovid's inaugural CPG report reveals the power of CTV for brands in reaching and engaging global audiences

NEW YORK, Sept. 22, 2022 /PRNewswire/ -- Innovid (NYSE: CTV), an independent advertising platform for delivery, personalization and measurement of converged TV, today announced findings from its first-ever deep dive consumer packaged goods (CPG) report, examining critical trends, challenges, and opportunities in the video advertising industry. The report reveals that, amongst CPG advertisers, connected television (CTV) devices account for over half of all video ad impressions (52%) – up from 44% previously – overtaking both mobile (37%) and desktop (11%).

"Consumer behavior is changing at an unprecedented speed, and the rise in ecommerce has compelled CPG brands to reimagine their digital advertising strategy," said Stephanie Geno, CMO, Innovid. "To meet consumers' evolving shopping habits and build brand loyalty, CPG brands have turned to CTV for its ability to reach consumers with personalized, cutting-edge advertising formats in a largely unsaturated space."

Key takeaways from the report for CPG marketers to consider include:

• Seize the CTV Opportunity
• CPG's video impression share for CTV was 52%, up from 44%.
• Pet supply brands lead CTV impression share with 70%, followed by household cleaning and beauty (both at 62%), food (61%), household goods (60%), beverages (42%), personal care (40%), alcoholic beverages (39%), and over the counter (28%).

• Boost Brand Loyalty with Advanced Creative
• Over half (53%) of all CPG CTV advertisers ran some kind of advanced creative video (i.e. dynamic creatives and interactive content).
• CPG brands using advanced dynamic creative optimization (DCO) formats – a form of advertising technology that uses data to guide and optimize creative elements and messages – saw a significantly higher video completion rate (VCR), of 98.6% versus an average 93.9% completion rate for standard video.

• Reach More without Repeating More
• CPG brands advertising across more than 6 CTV publishers had a duplication rate of just 18%.
• CPG campaigns reached just 12% (11.6%) of Innovid's 95 million CTV households on average, indicating there's plenty of room for growth.

"When maximizing reach, duplication is a justified concern for marketers – an ad shown too many times can negatively impact the consumer experience," continued Geno. "This is exactly where unified ad delivery, personalization, and measurement through a single independent platform is essential. There is a great deal of unexplored runway here, and there are many more households to reach. With the right tools, marketers can tap into those audiences, broaden reach, and mitigate oversaturation."

The report analyzed more than 103 billion CPG video advertising impressions served on Innovid's platform over a full year. Researchers looked across CTV, mobile, and desktop devices, examining performance across standard and advanced video to compile a complete picture of CTV advertising benchmarks and insights globally.

"As the worlds of digital and linear television converge, CPG brands are realizing that CTV delivers the best of both worlds," added Geno. "It provides captivating sight, sound, and motion that engages audiences, along with the targetability, interactivity, and measurability that allows advertisers to increase the ROI of their campaigns. We believe that CPG brands will continue increasing their presence on CTV, as they are empowered with these experiences and tools that can reinforce brand loyalty and attract new customers–all from the comfort of their couch."

The full Innovid CPG Report is available here.

About Innovid

Innovid (NYSE: CTV) powers advertising delivery, personalization, measurement and outcomes across linear, CTV and digital for the world's largest brands. Through a global infrastructure that enables cross-platform ad serving, data-driven creative, and currency-grade 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 innovid.com or follow us on LinkedIn or Twitter.

Media: 
Chris Harihar 
Chris@crenshawcomm.com

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FAQ

What percentage of video ad impressions do CTV devices account for in the CPG report by Innovid?

Connected television (CTV) devices account for 52% of video ad impressions among CPG advertisers, according to Innovid's report.

What industry leads in CTV impression share according to Innovid's report?

The pet supply industry leads in CTV impression share with 70%, as per Innovid's report.

What was the video completion rate for advanced creative formats in CPG advertising?

The video completion rate for advanced creative formats was 98.6%.

How many CTV households does Innovid reach with its campaigns?

Innovid's campaigns reach an average of 12% of its 95 million CTV households.

What is the significance of Innovid's CPG report for marketers?

The report highlights the growing importance of CTV in video advertising and the need for brands to adapt their strategies to maximize reach and engagement.