Television advertising is undergoing a significant transformation, fueled by the increasing adoption of Connected TV (CTV) and from the services of streaming. According to theInternet Media Observatory of the School of Management of the Milan Polytechnic, the TV advertising in Italy will reach a value of 4.3 billion euros in 2024with an increase of 6% compared to 2023. This represents the 39% of all Italian advertisingsignaling continued solid growth in the sector.
The Connected TV (CTV) phenomenon
The most significant growth is attributed to the Connected TV (CTV)which is expected to reach 2024 568 million euroswith an increase of 21% compared to the previous year. At European level, the Rate of growth of CTV is even more impressive, at 23.5% according to IAB Europe’s AdEx Benchmark 2023. CTV is overtaking other non-social video formats, becoming a crucial element in advertising strategies.
Italians’ Preference for Streaming TV
A recent study by The Trade Desk revealed that 76% of Italian viewers are willing to accept advertising content in streaming services such as PrimeVideo, Netflix and Disney+, in exchange for a cheaper or free service. This data highlights a strong openness towards streaming advertising, with 3 out of 4 Italians who pay attention to the commercials without changing channels or getting distracted. On the contrary, traditional TV manages to capture the maximum attention only of 1 in 3 Italians.
Attention Rate and Platform
Implications for the future of advertising
According to Nicola Spiller, Director of the Internet Media Observatory, 2024 will be the year of TV 2.0 will enter communication plans as a mainstream medium. Video format is perceived as the most effective and engaging, offering a unique opportunity for advertisers to reach and engage audiences in an innovative way.
The growth of advertising in Connected TV and the preference of Italians for streaming services represent a crucial turning point for the advertising market. The ability to capture the attention of the public and the integration of targeted advertising content will make CTV an indispensable element in future strategies.
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Source: diarioinnovazione.it
