The main players in the TV advertising market are CBS (Columbia Broadcasting System), Comcast Corporation, Viacom Inc., Gray Television Inc., Sinclair Broadcast Group, Sun TV Network, The Walt Disney Company, Time Warner Cable, TV Today Network and Vivendi SA.
New York, December 30, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “TV Advertising Global Market Report 2022” – https://www.reportlinker.com/p06193699/?utm_source=GNW
The global television market is expected to grow from $ 91.72 billion in 2021 to $ 95.98 billion in 2022 at a compound annual growth rate (CAGR) of 4.6%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach $ 105.96 billion in 2026 at a CAGR of 2.5%.
The television advertising market comprises the sales of advertising services by entities (organizations, sole proprietorships and partnerships) that plan, develop, create and manage television advertising and promotional activities. Only goods and services traded between entities or sold to final consumers are included.
The main types of television advertising services are terrestrial, multichannel and online. Multichannel advertising refers to the distribution of marketing messages through multiple media channels such as email, social media, print media, mobile, display ads, and television.
The services are provided through various platforms such as cable TV and satellite TV and are delivered through advertisements and subscriptions. The different time slots include 20 seconds, 60 seconds and over 60 seconds.
The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East & Africa.
The main obstacle for the television advertising market is the low assurance that advertising will be seen and effective. Many people switch channels when an advertisement appears while the show is paused.
In addition, individuals today use smartphones during advertisements until their program returns, which means that promotions are less taken into account. For example, according to a 2019 Edelman study, three in four consumers ignore ads.
In fact, 47% said they changed their media habits to see less advertising, while others say they use ad blockers to avoid them altogether. Thus, such factors are limiting the growth of the television advertising market.
The increased use of over-the-top multimedia services (OTT) is expected to drive the growth of the TV advertising market. OTT offers reach and retention because video advertising is 100% viewable, not skippable.
For example, on OTT platforms such as Netflix, Amazon Prime Video, and Disney +, ads are non-skippable and are 100% seen by the subscriber. These advertisements are referred to as subscription-supported video-on-demand services.
When such ads are seen by the audience, it reinforces the brand’s message. The total OTT ad spend for 2020 was $ 990 million.
A further increase is expected in the coming years, culminating in expected OTT ad spend of $ 2.373 billion in 2025, suggesting that advertising on streaming services is growing at a rapid rate. Thus, the increased use of over-the-top multimedia services (OTT) is boosting the television advertising market.
Programmatic television advertising is becoming increasingly popular in the television advertising market. Programmatic advertising is the process of buying digital advertisements automatically using algorithms and machines.
It eliminates human intervention in the advertising buying process, making it quick and less expensive. With the help of programmatic advertising, an organization can post as many ads as a business wants on as many platforms as it wants.
In addition, it meets the requirement for an expanded reach of advertisements as usage patterns have changed among the crowds. Programmatic advertising is associated with programmatic televisions that allow audiences to watch OTT platforms on television.
For example, when a person watches a movie or show on a scheduled TV, an advertisement appears in the video player itself. These ads are called in-stream ads which can be served as many times as an organizer wants, resulting in increased reach to the target audience.
In September 2020, Red Ventures, a US-based marketing and advertising company, acquired CNET Media Group from ViacomsCBS for $ 500 million. This agreement will help Red Ventures develop a personalized customer experience and expand into consumer technology and games by securing the network. websites that will include CNET, GameSpot, and ZDNet.
CNET Media Group is a United States-based online media company under ViacomCBS, which is a United States-based mass media company formed by the merger of CBS Corporation and Viacom.
The countries covered by the TV advertising market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom United and the United States.
Read the full report: https://www.reportlinker.com/p06193699/?utm_source=GNW
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