Cable industry consortium Canoe Ventures continues to report sharp upticks in the number of VOD ad impressions, with deliveries spiking 21% in the first quarter to nearly 5 billion.
Canoe’s quarterly reports never even hint at monetary figures, and cable companies typically don’t break out revenue from advanced advertising. However, Canoe marketing chief Chris Pizzurro told FierceCable, "Safe to say the VOD ad market is now $1 Billion ad marketplace when you include National Programmers & Local MVPD VOD."
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While the latest Canoe figures spin yet another story of steep growth and boundless participation by programming networks and advertisers, the rate of growth appears to be slowing. This is mostly due to the fact that Canoe has already penetrated the majority of cable homes, reporting the same 35 million-plus footprint as it did in Q1 of last year.
Canoe reported a 70% uptick in first-quarter impressions for the first quarter of 2016, for example.
Canoe is a joint venture between Comcast, Cox and Charter—the latter having ankled the JV only to return when it bought Time Warner Cable and Bright House Networks last year. Canoe handles the process of Dynamic Ad Insertion into cable VOD for every major programming conglomerate.
The consortium said participating cable operators delivered 2,286 VOD ad campaigns in the first quarter vs. 1,751 in Q1 of 2016.
Canoe said that 75% of cable VOD impressions came from external sources, with only a quarter comprised of network tune-in ads. Saturdays and Sundays are the biggest days for cable VOD DAI, with more than 32% of impressions occurring on the weekends in Q1.