Ads on Streaming Platforms Capture More Attention Than Ads on Social Media in India, According to New Magnite Research
64% of streamers in India report that they’re extra receptive to advertisements on streaming platforms than advertisements on social media
/EIN News/ — MUMBAI, India, Nov. 22. 2022 (GLOBE NEWSWIRE) — Magnet (Nasdaq: MGNI), the world’s largest impartial omnichannel sell-side promoting platform, right this moment 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 responsive to advertisements on streaming platforms, with many saying they typically 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 well-liked over fee for an ad-free expertise. 80% of streamers want to watch 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 want streaming to conventional TV and plan to stream extra
The examine discovered that two-thirds of streamers want to watch streaming providers over conventional TV and streamers rank high quality of content material, platform usability and content material discovery as an important elements driving their choice to stream. The majority (75%) of streamers stream extra video content material than a 12 months in the past and 66% anticipate 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 key streaming giants introduce ad-funded and hybrid fashions, domestically we’ve 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 in 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 accessible stock rising and the desire for streaming throughout India in accordance to Magnite’s analysis findings, advertisers want to pay attention to the place viewership is shifting and make investments in OTT to attain extremely engaged viewers watching their favourite reveals. At the identical time, we’re seeing an enormous shift taking place on the measurement entrance, with viewability amounting to three seconds or half of an advert on fast-scrolling screens. It’s straightforward to see a rising hole between the chance to be seen and truly 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 almost all of streamers’ time, and 88% of viewers reported a optimistic viewing expertise on smartphones, comparable to the quantity who reported a optimistic viewing expertise on TV screens.
- Mobile is the highest streaming gadget, however time spent on CTV is rising as good TVs are launched in Indian houses. 59% of streamers now watch CTV and spend a mean of 8 hours per week streaming content material on an enormous display screen.
- Live streaming goes mainstream. Almost all streamers (86%) mentioned that they watch dwell content material via streaming platforms, with streaming primarily masking information, sports activities and actuality content material. Streamers are extra possible to watch dwell reveals on streaming platforms than on conventional TV.
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Magnite engaged Dynata to conduct a web-based survey of a nationally consultant pattern of two,500 tv viewers in India. Eligible respondents had been between the ages of 16-74 and had been a pure dropout of those that watched 7+ hours of TV per week with not less than 5 hours per week of streaming video content material from a nationally consultant baseline pattern.
We are Magnite (NASDAQ: MGNI), the world’s largest impartial sell-side promoting platform. Publishers use our know-how to monetize their content material throughout all screens and codecs, together with CTV, on-line video, show and audio. The world’s main businesses and types belief our platform to entry brand-safe, high-quality advert stock and execute billions of advert transactions each month. Anchored in bustling New York City, sunny Los Angeles, mile excessive Denver, historic London, and down below in Sydney, Magnite has workplaces throughout North America, EMEA, LATAM and APAC.
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