New survey results show more advertisers plan to increase their addressable TV spend in 2024, coinciding with increased satisfaction with the method as key areas such as measurement and scale have improved.
The results from a survey of agency and brand-side marketers, released Wednesday by industry trade group Go Addressable in partnership with Advertiser Perceptions, show that of those already using addressable TV, two-in-five report they’ll spend more on addressable advertising in 2024. The 40% who said they’ll increase spending next year marks a gradual uptick from the 37% of advertisers that said the same in 2022 and 34% in 2021.
Go Addressable said increases are likely driven by more education and understanding of how to use the mode, which allows marketers to serve targeted ads to specific households or users, most effectively. Boosts in awareness, education and satisfaction of the medium are also helping to bring more advertisers into the fold of addressable TV. The report found that intent to use addressable among current non-users has doubled in the last two years. Half (50%) of advertisers not currently using addressable said they plan to start using the medium next year, compared to 25% that said the same in 2021.
"As we enter Go Addressable’s third year, adoption and usage of addressability has consistently been on the rise,” said Amy Leifer, chief advertising sales officer at DirecTV Advertising, in a statement. “We have seen the power of this medium to drive outcomes for clients as addressable TV is the ideal combination of sophisticated targeting and measurement on the big screen, where viewers are receptive to ads and where brands know their message will been seen in a brand-safe environment.”
Alongside more adoption and usage, advertisers cited increased confidence in the medium, as they also reported the greatest improvements in measurement (59%) and scale (54%). Satisfaction with the medium climbed to 85% in 2023 (or nearly 9-in-10 advertisers), up from 72% that were satisfied in 2021.
Go Addressable also surveyed its participating companies and found that since 2021 the initiative helped enable a monthly average of 68 billion linear advertising minutes, up 29% from when the same survey was done in 2022.
“At dentsu, we know that identity-based media opportunities are at the core of modern marketing, with solutions like addressable TV providing advancements in engaging with consumers through reach and targeting capabilities,” said Brad Stockton, SVP of U.S. National Video Innovation at dentsu, in a statement. “Widespread adoption and usage will help us get one step closer to creating unity in this otherwise fragmented ecosystem.”
Go Addressable is an industry initiative formed in 2021 by advertising arms of distributors including Comcast, Charter, Dish, DirecTV and Altice to advance addressable advertising and tackle existing challenges. Just this week it announced Paramount as the group’s first programmer member and simultaneously made the move to officially become an industry trade organization.
The survey results were released in conjunction with the third-annual Go Addressable summit taking place Wednesday in New York.