Addressable TV is poised to extend its reach to over 45 million homes, constituting 21 percent of addressable TV households in 2024.
According to a recent Group M report, this surge is attributed to major sporting events such as the IPL and World Cup, acting as catalysts to boost viewership on connected smart televisions.
During key moments, the concurrence on addressable TV has peaked at an 11.8 million, further amplifying the impact of advertising. The influence of over-the-top (OTT) content and diverse geographical regions, including the Hindi-speaking market (HSM) and Karnataka-Goa (KN), is also contributing significantly to this growth.
The emergence of over 110 fast channels offering diverse content is another contributing factor.
This has resulted in delivering billions of opportunities to see (OTS) for advertisers, indicating a paradigm shift in the way audiences engage with television.
Beyond the conventional realms of connected TV (CTV) and linear TV, addressable TV is expanding its footprint, now including direct-to-home (DTH) and cable services. Advertising on television is undergoing a transformation with programmatic taking a lead.
In a bid to address this change, advertisers adopting of dual measurement strategies, emphasising the need for comprehensive planning across various TV formats. The rise of hyper-personalisation in TV advertising, coupled with a focus on sports, is proving to be every marketer’s choice.
According to the report, with an average of 15 minutes spent on content discovery on home screens, TV is emerging as the new browser.
Additionally, sports is set to witness a renewed focus on immersive experiences, facilitated by affordable 5G and next-gen VR headsets.
“Fans will get more opportunities to cheer and engage with their teams across stadium, their homes and other spaces. Marketers will innovate and engage with fans through multiple touchpoints, built rich profiles and track their behaviour. Technology will enable marketers to leverage and personalise fluid moments in sports,” the report said.