Marketers plan to dramatically increase their budget commitments to Connected Television (CTV). In fact, 78% of marketers surveyed plan to buy ad inventory on streaming TV within the next 12 months, according to the latest SteelHouse survey of both brand-side and agency marketing professionals, conducted by independent consulting firm Advertiser Perceptions.

While only 2% of those surveyed said they never used video in their ads, 49% use video frequently, 38% use it occasionally, and 11% use it in all campaigns. An average of 30% of total advertising budgets are allocated to digital video across multiple channels, with 28% of that going to social platforms, 26% to in-stream, 20% to traditional local or national TV, and 13% to in-unit ads. But it was the newest category, CTV, also described as IPTV or OTT, that made the strongest impression, garnering 12% of planned video spend.

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“With more than 400,000 people cutting the cord from cable in favor of CTV every month, advertisers are having to rethink how to reach their audience. CTV is a fully addressable, all digital channel that combines the storytelling power of traditional television with the targeting and accountability of digital media. This study reflects a market that is changing rapidly and we’re excited to be in a position to let our clients and partners leverage these insights through our technology,” said David U Simon, CMO, SteelHouse.

The survey also found video measurement is still evolving. The top three KPIs for evaluating video inventory were completion rates (49%), impressions/reach (46%), and quality scores including viewability & fraud (44%). However, there were differences between marketers and agencies. Marketers identified impression/reach (48%), completion (47%), and click-through (44%) as the most valued metrics, while agencies chose completion (53%), quality scores (45%), and in-target delivery/GRPs (comScore, Nielsen, etc.). Sales attribution was low for both (28%).

Advertiser Perceptions conducted the online survey of 150 digital advertising decision-makers. 66% were marketers, 34% were agencies. 57% had a VP title or above. Respondents mean digital ad budget was $30.1M.

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