by Nuno Andrade, VP of Strategy at Media Culture
As we approach 2023, advertisers will be exposed to even more opportunities to reach their target audiences via streaming television. These changes will allow brands to not only reach new consumers, but to reach their existing audiences within a new medium.
Advertising through streaming TV offers many benefits compared to advertising through traditional options. Along with precision targeting, placing ads on streaming TV platforms allows for better measurement and insights that can drive more strategic decisions moving forward.
Below are 4 streaming trends for brands to watch in 2023:
1. Streaming platforms will begin to provide program-level visibility to advertisers looking to buy specific content.
As the channel continues to grow, advertisers will demand more visibility into the content that their ads are being featured on. To date, very few platforms have been able and/or willing to provide this insight, but as streaming audiences increase and advertisers move from linear to streaming, pressure will increase on streaming platforms to make this data available.
2. First-party data takes center stage.
With the continuing deprecation of third-party cookies, advertisers will be forced to consider the treasure trove of first-party data that they have on their consumers and how they will be able to take advantage of it to target existing customers, as well as find new ones. With this comes a real need to develop a data capture and retention strategy that is not only all-encompassing, but also takes privacy regulations into account. This need is not limited to streaming media but all the more important within a medium where inventory is sold at a premium, making accurate targeting an absolute necessity.
3. Live streaming programming (and reality TV) will continue to scale.
There’s no doubt that sports are the primary live-streaming opportunity. However, consumers can expect to see reality TV programs take over their streaming platforms. The signs are already upon us: Discovery leadership took over HBO Max; Dancing with the Stars is now on Disney Plus. Why is this important? Brand advertisers prefer to access concentrated audiences at scale via appointment television.
4. Mike at Manic Mechanic will buy his first CTV ad.
What does Ryan Reynolds have to do with your local auto mechanic? More than you think. Ryan Reynolds is the chief creative officer at MNTN (pronounced “Mountain”) Performance TV, the first self-serve CTV platform. Although currently only available to large brands and agencies, MNTN represents the first step in the commodification of TV inventory, making it available to all advertisers, in much the same way Google Ads (AdWords, at the time) did for paid search ads in 2020.
Placing video advertisements on a streaming platform can increase brand awareness and inspire more viewers to consider your brand the next time they are looking for a product or service that your brand provides. In 2023, as consumers become accustomed to having their binge-watching interrupted by more ad breaks in exchange for lower streaming costs, working with relevant streaming service providers will be fundamental to reaching the right audiences and achieving the best results.
Nuno Andrade, VP of Strategy at Media Culture, is a digital media industry veteran whose experience spans more than 15 years. He has worked with clients such as L.L. Bean, Citibank, CapitalOne, and Visit Florida. As VP of Strategy at Media Culture, Nuno specializes in bridging linear and digital media efforts within the agency while being responsible for the formulation of internal and client strategy.