Why aren’t marketers spending more on connected TV?

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Nearly half (47%) of marketers worldwide would spend more on connected TV (CTV) advertising if they had access to higher-quality targeting data, according to Lotame. Meanwhile, 36% are looking for a more efficient buying or planning process.

Beyond the chart: CTV is one of the fastest-growing US ad categories we forecast, but the majority of marketers polled by Lotame spent no more than one-quarter of their budgets on these platforms as of September. Improved targeting capabilities would change that.

A better buying process would also be pivotal. Our principal analyst Paul Verna said on the “Behind the Numbers” podcast, “As a buyer, you might be buying an ad from a device company, or a TV network, or an aggregator, or a set-top-box-maker—really, any number of companies that are in that value chain.” Systematizing that process would encourage more CTV advertising.

More like this:

• Report: US Video Trends to Watch for 2023
• Article: Why performance marketers should capitalize on CTV’s surge—and what’s holding them back
• Article: Advertisers hone in on marketing opportunities as TV viewing evolves

Methodology: Data is from a November 2022 Lotame report titled "Beyond the Cookie: Next-Generation Customer Acquisition & Retention for Marketers and Publishers" conducted by PureSpectrum. Over 1,400 marketers and publishers worldwide were surveyed online during September 2022. Respondents were based in Australia, Colombia, India, Mexico, Singapore, the UK, and the US. Lotame is a data management platform (DMP).