Europeans have been consuming content through their television screens for decades. However, this activity seems to be in the middle of a revolution, especially since the coronavirus outbreak. Modern-day individuals can find various entertainment options beyond the traditional cable or linear formats, typically opting for Video on Demand (VOD). Samsung, for instance, conducted a recent survey that proved how small of a role linear television plays in the typical European population. This trend is consistent across other nations, such as North Africa and the Middle East, with studies proving that the total number of people viewing TV has dropped from almost 97% to 84% in the last ten years.
If top brands want to reach those engaging in VOD, they need to completely modify their advertising approach to reach those individuals. Advertisers must account for the ever-changing viewership preferences to satisfy the exact audience who once were fine with simple linear television, including the CTV or Connected TV. However, there has been a lack of comprehensive research on how exactly advertisers and stakeholders perceive the challenges as well as the opportunities that lie ahead.
Thankfully, recent research from PubMatic and VideoWeek has given the advertising industry further insight into the ever-changing Connected TV advertising in the EMEA region. The findings help to explain the key drivers and inhibitors for advertising in this new landscape. Some of the findings concluded that:
If top brands want to reach those engaging in VOD, they need to completely modify their advertising approach to reach those individuals. Advertisers must account for the ever-changing viewership preferences to satisfy the exact audience who once were fine with simple linear television, including the CTV or Connected TV. However, there has been a lack of comprehensive research on how exactly advertisers and stakeholders perceive the challenges as well as the opportunities that lie ahead.
Finding Clear Direction Through Research
Thankfully, recent research from PubMatic and VideoWeek has given the advertising industry further insight into the ever-changing Connected TV advertising in the EMEA region. The findings help to explain the key drivers and inhibitors for advertising in this new landscape. Some of the findings concluded that:
- The Market Is Divided into Two Key Players
Right now, the market contains global players and local players. The global players are the ones creating disruptions in the market by trying to innovate and adapt to every-changing consumer consumption patterns, while the local players are slower to adapt, but have been found to develop exclusive ad solutions. The study reveals how broadcasters are hesitant to embrace the Connected TV mentality. A few are still considering it as a digital addition to conventional broadcasting and not the future of television promotion. This psychological battle is, in certain cases, obstructing the investments in this industry. - Connected TV Has Gone from A Theoretical Notion to A Tangible Solution.
The market has been progressing at a fast pace for the last twelve months, seeing a faster adoption rate in Europe because the colossal global players have jumped to find solutions and advancing via their technology, unified content, and data infrastructure much quicker than the small locals. The smaller players are also savoring success, but they face substantial hurdles in refurbishing the incentives and markets for the Connected TV. -
Programmatic Connected TV advertising is just beginning but is predicted to become a Major Player in the Market.
Connected TV development requires many resources. It, after all, must keep pace with the introduction of new connected devices every week and become more efficient than their competitor’s technology and capabilities. Both sellers and buyers are needed in the market. Buyers across Europe agree to bring their own data into the Connected TV purchases. But the sellers in some markets have been quite slow to roll out the benefits of Connected TV data, with a handful specifying concerns over the necessity of protecting viewer experience and losing control over the inventory. With advertising going through such a profound transformation, television is no longer falling behind. However, it is important to have the right type of ecosystem and partners and here is where EikonTech can help, providing cross-channel advertising and marketing solutions through technology to help clients grow their digital efforts and sales.