1 out of 3 Americans do not have cable. Do you know anyone who hasn’t heard of Netflix, Hulu, Amazon or even Peacock? The phrases “binge watch” and “cord cutting” have entered the lexicon and changed the way people are watching their favorite shows (73% of U.S. consumers prefer to binge-watch). These video platforms have shifted our behaviors, and large numbers of people are watching TV whenever they want — on their own schedule and on their own time. Research shows more than 80% of US households have at least one streaming subscription, and the ongoing pandemic has seen a slight increase in the number of American customers (Deloitte). It’s even estimated that the global streaming market will be worth $223.98 billion By 2028 (GVR).
So, why is now a good time to buy streaming ads? Because not only have we seen the market grow by leaps and bounds, emerging as a powerful advertising channel, but (and just as important) the cost to run ads has remained low, allowing businesses of any size to consider it as an affordable alternative to traditional TV advertising. In fact, a single ad can range anywhere from tens of dollars to thousands depending on which platform you use.
Streaming ads are being used for virtually everything, from local restaurants promoting “game time” delivery, to interactive “choose-your-own” car commercials. This level of engagement is where the power of advertising on these services comes into play. Even better, streaming tv has access to accurate and specific viewer data that you can use to target your potential clients more directly. Meaning your marketing campaigns have the potential to receive accurate targeting, and enhanced ad relevance — giving you exactly what you want, an increase in audience engagement.