Ads on Streaming Platforms Capture More Attention Than Ads
MUMBAI, India, 22 Nov. 2022 (GLOBE NEWSWIRE) — Magnet (Nasdaq: MGNI), the world’s largest unbiased omnichannel sell-side promoting platform, in the present day launched a examine titled “India Embraces the Streaming Era” which discovered that advertisements on streaming platforms appeal to extra consideration than advertisements on social media. Almost two-thirds of India’s streamers (64%) are extra aware of advertisements on streaming platforms, with many saying they usually seek for the product (48%) and make a purchase order (33%) afterwards.
The examine additionally discovered that free or ad-supported content material is most popular over cost for an ad-free expertise. 80% of streamers desire to observe ad-supported content material versus subscribing to an ad-free platform for a month-to-month price.
“OTT is unmatched in its ability to engage viewers and we commissioned this study to better understand consumption patterns across India’s fast-growing streaming audience,” mentioned Gavin Buxton, managing director, Asia at Magnite. “One of the study’s key findings shows that OTT advertising outperforms other mediums such as social media when it comes to attention and purchasing power. With three-quarters of video viewers now streaming more than a year ago, advertisers should actively explore this channel to reach the right audiences.”
Streamers desire streaming to conventional TV and plan to stream extra
The examine discovered that two-thirds of streamers desire to observe streaming companies over conventional TV and streamers rank high quality of content material, platform usability and content material discovery as an important components driving their resolution to stream. The majority (75%) of streamers stream extra video content material than a 12 months in the past and 66% count on to stream extra subsequent 12 months.
“We are witnessing the next phase in streaming’s evolution – one where the lines between SVOD and AVOD and FAST are blurring as we see audiences continue to fragment,” mentioned Prabhvir Sahmey, Senior Director at Samsung Ads, India. While globally we’re seeing the main streaming giants introduce ad-funded and hybrid fashions, domestically we’ve got seen the adoption of those freemium fashions in India gaining vital viewership. It’s thrilling to see such a promising future for ad-supported streaming, each lately confirmed in our TV advert engagement examine and validated on this new report from Magnite.
“The migration of audiences from linear TV to streaming represents an opportunity for our clients looking to invest in CTV and incorporate TV buys into their overall advertising strategies with screen-agnostic planning,” mentioned Bharat Khatri, Head Digital Officer, APAC at Omnicom Media Group. “With the breadth of obtainable stock growing and the choice for streaming throughout India in keeping with Magnite’s analysis findings, advertisers must be aware of the place viewership is transferring and spend money on OTT to achieve extremely engaged viewers watching their favourite reveals. At the identical time, we’re seeing a giant shift occurring on the measurement entrance, with viewability amounting to 3 seconds or half of an advert on fast-scrolling screens. It’s simple to see a rising hole between the chance to be seen and really being seen, so the necessity of the hour is to begin optimizing based mostly on consideration to generate incremental worth throughout artistic, media planning and shopping for , and in flip enhance model well being and motion.”
Additional key findings from Magnite’s study include:
- Mobile accounts for the majority of streamers’ time, and 88% of viewers reported a positive viewing experience on smartphones, comparable to the number who reported a positive viewing experience on TV screens.
- Mobile is the top streaming device, but time spent on CTV is increasing as smart TVs are introduced in Indian homes. 59% of streamers now watch CTV and spend an average of 8 hours a week streaming content on a big screen.
- Live streaming is going mainstream. Almost all streamers (86%) said that they watch live content through streaming platforms, with streaming mainly covering news, sports and reality content. Streamers are more likely to watch live shows on streaming platforms than on traditional TV.
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Methodology
Magnite engaged Dynata to conduct an online survey of a nationally representative sample of 2,500 television viewers in India. Eligible respondents were between the ages of 16-74 and were a natural dropout of those who watched 7+ hours of TV per week with at least 5 hours per week of streaming video content from a nationally representative baseline sample.
About Magnite
We are Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising platform. Publishers use our technology to monetize their content across all screens and formats, including CTV, online video, display and audio. The world’s leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of ad transactions every month. Anchored in bustling New York City, sunny Los Angeles, mile high Denver, historic London, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM and APAC.
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