Media consumption was once household-oriented where families would gather around the Television and watch I Love Lucy. Today, viewers have no allegiance and content is consumed through different mediums, environments, and on-demand.
One of the largest shifts in ad spend is happening right in front of our eyes and most of you don’t even know it. In 2020 it is estimated that over $8 billion will be spent on connected TV (CTV) ads. The space is exploding with consumers looking for long-form or premium video-on-demand, which can be accessed through any internet connected device and platforms like Apple TV, Amazon Fire TV, Disney+, Hulu, Roku, and YouTube TV.
Technology is advancing rapidly and with that, corded relationships are too. Today there are four types of consumers.
We saw a historic move in 2019. For the first time in history cord cutters outnumbered cord nevers, equating to nearly 25% of all Americans and increasing exponentially.
One subset of population is the Gen X-ers with defining characteristics. They are vastly different in the way they consume, research, and choose products. 72% of Gen-X uses the internet to research businesses and have huge purchasing power…with 31% of total U.S. income, and by the way, on average higher than the national average of other generations. They also have the highest brand loyalty and highest social media usage.
In order to reach Gen X-ers you have to think like them. Where do they consume content? Connected internet devices. If you’re advertising strategy does not include OTT, you are missing a huge subset of customers completely. Building brand awareness and consideration is key when influencing the younger generation on where to buy.
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Connected TV is everywhere and you can be too
There’s a lot of opportunity to take advantage of the rapidly evolving video ecosystem. Digital video advertising spend is increasing and we have the perfect solutions for your business.