Magnite Research Finds Americans Are Actively Planning Vacation Travel and CTV is Key to Reaching Travel Decision-Makers

Rhea-AI Summary

Magnite (Nasdaq: MGNI) released a study titled “The Great Escape,” revealing that nearly 60% of respondents prefer travel brands advertised on connected TV (CTV) over traditional television. The survey of over 900 American travel decision-makers showed strong pent-up demand for travel, with 84% feeling optimistic about safe travel this year. Additionally, 77% are planning to fly, while 86% prefer hotels. CTV advertising proved effective, with 65% visiting advertisers' websites post-ad exposure.

Positive

• 60% prefer CTV ads over traditional TV for travel brands.
• 84% are optimistic about safe travel this year.
• 77% plan to fly within a year.
• 86% favor hotel stays during trips.
• 65% visited advertisers' websites after CTV ad exposure.
• 74% took multiple actions after seeing CTV ads.

Negative

• None.

Nearly 60% of those surveyed more likely to consider a travel brand advertised on CTV than on traditional TV

NEW YORK, April 27, 2021 (GLOBE NEWSWIRE) -- Magnite (Nasdaq: MGNI), the world’s largest independent omnichannel sell-side advertising platform, released a study that surveyed over 900 American travel decision-makers about their vacation plans. The report, titled “The Great Escape,” shows not just that Americans are actively planning their first trips in more than a year, but that CTV advertising is a critical medium for influencing their travel choices.

Americans are eager to travel and are actively planning

The study found that there is pent-up demand for travel and most respondents are confident they will be able to do so safely in the near future. 84% percent are optimistic that the improving pandemic situation will allow them to travel safely this year. Nearly the same percentage (83%) are already actively planning summer and fall trips. These conclusions are in line with Longwoods International’s figure that 87% of Americans have travel plans within the next six months - the highest level in more than a year.

Air travel and hotels are part of the plan

77% of respondents said they are planning to fly once or more in the next year, and a large majority (86%) favor staying at a hotel, resort or motel when they reach their destinations. Nearly all respondents are planning at least one road trip with an average distance of 350 miles.

Travel ads on CTV are trusted, inspirational and effective

As Americans plan their travels, CTV is one of their primary sources for trusted information. 59% of respondents said they are more likely to consider a travel brand advertised on CTV than on traditional television, and more than half (56%) of respondents said travel ads on CTV are a key source of inspiration, information and ideas.

The research showed that CTV is effective at driving consumer action. 65% percent of respondents said they visited an advertiser’s website after seeing a travel ad on CTV. And nearly three-fourths (74%) took two or more actions after seeing a CTV ad - such as discussing the ad with someone or conducting further research.

“Our research shows that a vacation travel resurgence is coming, and many Americans are finally feeling safe enough to fly and stay in hotels,” said Adam Lowy, Head of North American CTV Demand Sales and Strategy at Magnite. “What’s more, people are actively planning their trips now, and they were clear that they are influenced by travel ads streamed on connected TVs, often more than those on traditional television, and they’re highly likely to drive them to take action. When you consider that according to eMarketer, more than a third of Americans are unreachable via traditional television, the study shows how CTV should be a key part of every travel advertiser’s media plans.”

Additional key findings include:

• Digital video ads are essential for travel discovery. Nearly three-fourths (74%) of respondents said digital video ads have allowed them to learn about travel opportunities they probably would not have known about otherwise.
• Ad receptivity correlates to content quality as 69% of respondents said they are open to watching ads on streaming TV because they are getting access to high-quality TV shows and films.
• Video is a key part of the travel research process with 65% of respondents saying they almost always watch a digital video of a travel destination before booking a trip. The study also found that professionally produced ads are nearly three times more effective than user-generated content in encouraging viewers to take action after viewing the ad.
  

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Methodology

Magnite engaged Lucid for an online survey of 903 travel decision-makers who intend to travel within the next 12 months and subscribe to or share at least one advertising-supported streaming service (e.g. Pluto TV, Sling TV, Discovery). The survey was conducted from March 12 to March 17, 2021. Sample was balanced for age and gender.

About Magnite

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 desktop, mobile, audio and CTV. And 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. Anchored in sunny Los Angeles, bustling New York City, historic London, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM and APAC.

Contacts
Kar Yi Lim
917-658-1994
klim@magnite.com

FAQ

What were the key findings of the Magnite study on travel advertising?

The study found that 60% prefer CTV ads, 84% are optimistic about travel safety, and 77% plan to fly.

What is the impact of CTV advertising on travel decisions?

CTV advertising significantly influences travel decisions, with 65% visiting advertisers' websites after seeing ads.

How many respondents are planning trips according to the Magnite study?

The study reported that 83% of respondents are actively planning summer and fall trips.

When was the Magnite travel study conducted?

The study was conducted from March 12 to March 17, 2021.

What percentage of respondents favor hotel stays when traveling?

A large majority, 86%, prefer to stay at hotels, resorts, or motels during their trips.