BIA Advisory Services teamed with SalesFuel in our regular digital event series for a webinar analyzing where the OTT local ad market is trending in 2021.
Premion’s Peter Jones, Head of Local Sales joined BIA’s managing director Rick Ducey and SalesFuel’s CEO Lee Smith to share data, insights and key trends. Listen to the webinar here.
Ducey highlighted BIA’s OTT Local Ad Spending Forecast for 2020-2025, “BIA’s OTT forecast heavily weights the CTV ad spending component that is competitive to and complementary with linear TV buys for the big screen. From about $1.2B in 2021, we see this market doubling to $2.4B by 2025.”
Premion’s Jones emphasized that OTT is best used not only for audience targeting but also for going beyond CPM campaigns and into engagment and performance on campaign KPIs. OTT brings the power of big screen TV engagement with the targeting and attribution data and tools from digital ad platforms. Jones shared that OTT campaigns often performance as well as search or other digital campaigns.
From Premion’s perspective, OTT differentiators from digital ad platforms include its premium video, TAG-certified fraud protection, and the ability to leverage both linear video and OTT for both audience extension strategies to bolster linear TV buys and also target OTT unique segments (e.g., “cord nevers”).
SalesFuel’s Smith shared some AudienceSCAN consumer insights into the local OTT market. He shared that Heavy OTT Viewers are more likely that U.S. adults overall to “take action” based on ads. This “take action” is defined as “clicking on a banner ad, doing an Internet search, going to the advertiser’s website, buying the product or calling/visiting the advertiser.”
Among Heavy OTT viewers 26.4 percent are likely to engage within 30 days and nearly three-quarters (72.2 percent) have done so in the past 12 months. This compares to 22.0% and 59.5 percent for the general adult population.
The digital event series continues in May to cover Lawyers and Accountants and then Real Estate in June. Click for details on the whole BIA/SalesFuel Digital Event series here.
