Wednesday, April 12, 2023
In This Week's News ??, we explore the latest updates to the IAB Tech Lab's Video Ad Guidelines, the rise of CTV as a powerful branding channel for sports advertisers, and the enduring popularity of TikTok among teenagers despite a slight decline in favorability according to a recent study.
Explore the latest updates to the IAB Tech Lab's Video Ad Guidelines
- The IAB Tech Lab recently updated its Ad Formats Guidelines for Digital Video and CTV, which included changes to the definition of in-stream video. The revised guidelines recognize that sound-on in video can be an indicator of high-value inventory, but it should not be the only qualifier. The nontechnical definition of an in-stream video placement is when the user intended to watch the video content. The guidelines also clarify that the out-stream designation is only for ads, and accompanying content, including pre-roll, mid-roll, and post-roll ads, can expose users to discoverable content. The video player can load before, between, or after paragraphs of text or graphical content, and accompanying content should only start playing when it enters the viewport.
- Early industry adoption is vital, and publishers should not be punished for using the new values, especially if some of their demand partners are still using legacy values. All publishers and platforms should be held to the same standards and held accountable for driving transparency. Contextual targeting and transparency about a video's in-stream or out-stream classification will likely lead to fairer pricing for video ads, greater access, and demand from advertisers, and enable publishers to get a fair price for valuable inventory during an economic downturn.
???? Read the full article from?Ad Exchanger
Why CTV is the next big branding channel for sports advertisers
- If you're a brand trying to reach sports audiences, you know that it's becoming increasingly difficult and expensive to do so through traditional advertising channels like linear TV. However, with 76% of households now owning a smart TV, connected TV (CTV) advertising is becoming a vital part of the marketing mix for sports advertisers.
- CTV ads extend the impact of traditional sports sponsorships and offer the advantages that other digital marketing channels have over linear TV advertising, such as audience targeting and the ability to update creative dynamically. With CTV, brands can reach sports fans via streaming apps like ESPN+, Peacock, and Prime Video, using contextual targeting and dynamic video to serve highly targeted ads that don’t rely on third-party cookies.
- CTV advertising is still relatively untapped by advertisers targeting sports audiences, but it's a cost-effective, hyper-relevant, and valuable way to connect with fans and drive brand awareness and conversions. The Trade Desk and YouGov report that 74% of marketers believe buying CTV ads in conjunction with live sports is more impactful than a classic sports sponsorship.
- An added benefit of CTV is that non-skippable ads and 100% viewable units can increase video completion rates and keep brands top-of-mind for sports fans for longer. CTV's targeting capabilities give advertisers more control over who they reach and when, allowing them to reduce budget waste and confidently communicate their message to the right audience at the most impactful times.
- Dynamic creative works like other formats, so campaign creative can include team logos, kick-off countdowns, real-time game, player and team stats and QR codes to keep ads fresh, relevant and memorable. As part of a single campaign, advertisers could serve different ads to fans in different locations, tailored to their interests and location.
- Between now and the close of 2023, there is plenty of live sports programming for brands to capitalize on, such as the NBA Finals, NFL, and college football seasons. However, demand for CTV ad slots is fierce, so planning ahead is crucial for brands looking to leverage the channel’s targeting capabilities and dynamic creative to reach tuned-in sports audiences.
???? Read the full article from?DIGIDAY
TikTok remains top social app for teens despite drop in favorability, study finds
- According to Piper Sandler’s Spring 2023 Taking Stock with Teens survey, TikTok is still the most popular social media platform among teens, with a 37% share, followed by Snap (27%) and Instagram (23%). However, TikTok's favorability fell one percentage point from the fall of 2022, possibly due to growing data privacy concerns and ongoing federal scrutiny. Despite this, it remains unlikely that the use of TikTok by teens will plummet anytime soon, given its unshaken No. 1 status and ongoing support from marketers.
- The report also highlights that 31% of teens spend their daily video consumption on Netflix, followed by YouTube (28%), and that 29% of teens own a VR device, mirroring widespread struggles in the space. In terms of spending priorities, food was top of the list for men (24%) and clothing was top of the list for women (28%). Nike remains the top brand for all teens for both apparel (33%) and footwear (61%), while Amazon is regarded as the top e-commerce site (57%).
- Self-reported teen spend totals $2,419, up 2% YoY, with spending among upper-income teen men rising 6% YoY and rising 1% YoY for teen women. The study also tracks a slight uptick in preferences favoring off-price and secondhand shopping, as well as a new low of 12% in the mass/dept/drug sector, indicating that younger consumers may increasingly favor sustainable shopping efforts and affordability as economic headwinds persist.
- The survey notes that environmental concerns were the highest ranking cause among teens at 19%, followed by racial equity (9%), abortion and inflation (both earning a 6% share), and The Willow Project (4%). The core beauty wallet, which includes cosmetics, skincare, and fragrance, grew 19% YoY to $313 annual spend led by cosmetics, which posted 32% YoY growth. Finally, among successful food brands, Chick-fil-A remained the No. 1 restaurant (13%), followed by Starbucks (12%) and Chipotle (7%).
???? Read the full article from?Marketing Dive
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