29 Mar Get Ready for More Streaming Ads, Say Speakers at EnTech Fest [Media Play News]
BY STEPHANIE PRANGE
March 29, 2023 | The future of television is much like its past — advertising.
That’s according to speakers at the EnTech Fest 2023, held March 29 in Los Angeles and presented by DEG: The Digital Entertainment Group.
“Online video advertising is the fastest growing market,” noted Marija Masalskis, senior principal analyst, media and entertainment, at Omdia.
“There’s no question that AVOD and FAST are on the rise,” said Briana Larsen, VP, content strategy and business development, TiVo, noting 74% of those in a survey were in favor of ads or ad tolerant. More specifically, 60.3% were ad-tolerant, 13.6% were in favor of ads and 26.1% were ad-averse.
Consumers are tolerant of advertising, but the ad dollars aren’t necessarily finding those consumers in the connected space.
An Omdia consumer survey asked, “What device do you think of first when you want to watch something?” and found the majority of respondents said they think of connected TV devices (smart TVs, Apple TV, Roku, etc.)
“CTVs are still the first choice of device when consumers are looking for something to watch,” Masalskis said. “So CTV platforms is where the consumers already are, but that’s not where the advertisers are.”