Connected TV has emerged as a game-changer in the advertising industry, blending traditional television with digital capabilities. India’s Connected TV (CTV) landscape is experiencing a rapid surge, with exciting developments on the horizon. With more than 30 millions of households now equipped with internet-connected TVs, brands are eager to capitalize on this burgeoning platform to reach their target audience. A Finecast-GroupM report on the changing landscape of television in India revealed that CTV ad spend will increase at a CAGR of 47 percent in the country until 2027. In addition, the report also mentioned that ad spend will reach about $395 million by 2027. The Connected TV landscape in India is booming rapidly and is promising even more exciting developments to look forward to hence brands are now willing to unlock the potential of CTV advertising by moving beyond traditional targeting and leveraging CTV’s hyperlocal capabilities.
Driving Consumer Connect
One of the key factors driving brands to invest in CTV advertising is its hyperlocal targeting capabilities. Unlike traditional TV advertising, which casts a wide net, CTV allows brands to deliver ads to specific geographic regions, neighbourhoods, or even individual households. This level of precision targeting ensures that ads resonate with local audiences, driving higher engagement and conversion rates. This dynamic ecosystem fosters deeper connections and engagement with audiences, setting the stage for more impactful advertising experiences.
CTV enables brands to also personalize their advertising messages based on viewer demographics, interests, and preferences. By leveraging data insights, brands can tailor ad creatives and storytelling to create a more relevant and compelling viewing experience. Whether it’s showcasing products relevant to a viewer’s interests or delivering personalized promotions, CTV advertising enables brands to connect with consumers on a deeper level unlike most traditional mediums.
Dynamic and Interactive Content
In addition to hyperlocal targeting and personalization, brands are drawn to CTV advertising for its ability to deliver dynamic and interactive content. TV commercials are static and linear, and unlike these, CTV ads can incorporate interactive elements, shoppable features, and immersive storytelling techniques. Marketers are shifting away from static banners and embracing data-driven insights to personalize ad creatives, communication, and visuals according to viewer demographics and preferences. From interactive quizzes to 360-degree product showcases, CTV offers endless possibilities for brands to captivate their audience and drive action. CTV enables brands to showcase relevant products or storylines that evolve based on the viewing habits of their target audience, creating a truly dynamic and engaging experience.
As the CTV landscape continues to evolve, brands are expected to further increase their investment in CTV advertising. With advancements in technology and data analytics, CTV advertising will become even more sophisticated, offering brands unprecedented opportunities to engage with consumers in meaningful ways. CTV offers a platform for innovation and creativity, empowering brands to experiment with new formats and storytelling techniques. The CTV landscape that has gained significant momentum is poised for further growth, with a projected user base surpassing 40 million by 2025, as per an EY-FICCI report.
Presently growing at a burgeoning pace, the Connected TV market seems to have a propitious future. Needless to say, the medium will further prosper as a result of increasing attention from advertisers as they look to leverage the potential of digital advertising to reach their target customers innovatively and effectively. As CTV continues to reshape the advertising landscape, brands that embrace this transformative platform will undoubtedly stand out in a crowded marketplace, driving greater brand awareness, engagement, and ultimately, business success.
In times to come, it will become imperative for brands to strategically cater to this exponentially rising medium for a progressive future.
Krishna Menon is the chief operating officer of QYOU Media India
Views expressed are personal.