CTV Now Generates Over Half Of Global Video Ad Impressions, Dynamic Ads Outperform
Connected TV (CTV) now accounts for more than half (51%) of global video impressions — up 10.9% compared to CTV’s 2021 share, according to Innovid’s latest benchmarks report.
CTV accounted for just 31% of total impression share by device in 2019. And on top of its 2021 gain, it was up by another three percentage points in this year’s first quarter.
Meanwhile, mobile’s share has been in steady decline since 2019, and is now at 36%, and desktop declined from 15% in 2021 to 13% last year.
The report is based on an analysis of 330 billion video advertising impressions globally from advertisers served on Innovid’s advertising platform between Jan. 1 and Dec. 31, 2022, across verticals and devices (CTV, mobile, and desktop).
The analysis also found that interactive CTV ad formats generated a more than 600% lift in engagement compared to standard pre-roll video across choice and non-choice ads. Non-choice ads on their own drove a 17% lift.
“As TV viewership continues to shift towards streaming, the share of CTV impressions will only continue to grow – and this trend is evident as Upfront buys continue to flow towards CTV inventory,” observes Dave Helmreich, chief commercial officer at Innovid.
Interactive CTV formats had a 96.4% completion rate — beating standard video completion by 3% — and resulted in 92 seconds of additional time earned on top of time spent watching pre-roll.
There was also a 15% increase in interactive CTV campaigns in 2022, with 17% more advertisers running them on the Innovid platform.
Interactive ads generated lifts of 181% and 166% on mobile and desktop, respectively, over standard video. When engaged, interactive mobile and desktop formats generated an average of 32 additional seconds of time earned.
QR codes pulled a strong average scan-click rate of 0.02%.
Dynamic video and display advertising that enables personalized messaging at scale also saw steady year-over-year impressions growth, with increases of 50% and 96%, respectively.
Dynamic video formats drove a 5% higher lift than standard ads, and dynamic display ads drove an 83% higher lift.
Like other studies over the years, this analysis also confirms superior engagement for shorter ad formats.
CTV ads that are 15 or 30 seconds had average video completion rates (VCRs) of 94.5% and 94.1%, respectively.
For mobile and desktop, click-through rates (CTRs) were also highest for the shorter formats, dropping for any ad duration longer than 30 seconds.
“There is growing pressure on advertisers to justify every dollar by measuring performance and proving a strong return on investment, plus improving relevance with personalization of the creative to drive outcomes,” Helmreich said, stressing the need for real-time campaign insights that allow for continuous optimization of ads across converged television.