New analysis from Innovid finds interactive connected TV ads drive greater engagement and completion rates than advanced video ad campaigns on mobile and PC platforms.
The stronger results across performance and attention metrics came from an analysis of over 286 billion video ad impressions across mobile, desktop, CTV device and social platforms.
Innovid classifies interactive CTV campaigns as those that allow audiences to directly engage with the video ad, such as through a QR code, coupon code or other interactive ability.
In the last year interactive CTV campaigns drove a 5.42% engagement rate, compared to a rate of 0.97% for mobile and PC. As for video completion rate (VCR), CTV came in well higher at 94.65%, versus a VCR of 62.36% for mobile and PC. Time earned for CTV was 72.25 seconds while PC and mobile was 34.75 seconds, the results show.
While the analysis said interactive mobile and PC rates were promising, Tal Chalozin, CTO and co-founder at Innovid, noted that “CTV has proven to be especially powerful.”
In terms of finishing a video, the interactive CTV video completion rate increased double digits (11%) overall in the last year to reach 95%. For the same period, video completion rates for interactive mobile and PC campaigns combined were 62%.
“CTV is predisposed to having stronger completion rates,” said Chalozin in a statement. “This is likely due to the nature of the CTV platform where a consumer usually has to watch the ad for viewing to continue. This is one of the key benefits of CTV for marketers.”
In the media space, different companies have been experimenting with new ad formats that up the interactivity factor. Roku, for example, teamed up with Walmart to pilot shoppable ads where consumers can purchase and complete orders directly from the TV screen with prepopulated payment information. NBCUniversal has also teed up new ad innovations, including for its Peacock brand which showcased Frame Ads during this year’s Upfronts. Those feature geotargeting for relevance by region, but can also involve commerce by inserting a QR code where viewers can connect to partners to actually deliver products to the person’s door.
On the CTV front, Innovid earlier this year unveiled findings that global connected TV video impressions surpassed those on mobile devise in 2021. CTV accounted for 46% of all video ad impressions last year, up from 40% in 2020.
And CTV is boosting Innovid’s own advertising platform, making up 50% of total impression volume in the second quarter, marking 23% growth year on year. CTV ad growth comes alongside a continued shift in TV viewership to streaming, as well as an increasing number of ad-supported options. Nielsen’s latest TV viewing snapshot reported a new record-high for streaming, which nabbed a 35% share of total TV time in August, surpassing cable for the second month in a row.
In reporting Q2 earnings, Zvika Netter, co-founder and CEO at Innovid, noted that the company’s CTV growth pointed to usage trends moving toward streaming and ad-supported services.
“We believe a substantial share of streaming’s future will be ad supported,” Netter stated. “As the CTV market matures and more and more TV media platforms are being added to the ecosystem on a regular basis, it reinforces our value proposition.”