In the period prior to the impact of the pandemic on the U.S. advertising marketplace, advertiser sentiment about TV's relative value had already been eroding, according to a study released today by ad technology firm Viant.
The study, which is based on a survey of 500 U.S. marketing "decision-makers" conducted in January by Censuswide, found a marked decline in planned TV ad spending as well as perceptions of TV advertising effectiveness currently vs. a similar study conducted in 2018.
The percentage of marketers stating they were planning to spend the same or less on linear TV in the upcoming year rose to 84% in 2020 vs. 57% in 2018.
The percentage of marketers who said they believe their TV ad spending is less effective than it was five years ago rose to 59% in 2020 vs. 41% in 2018.
The study also asked this year's sample whether they believed there should be one "single currency" for all omnichannel measurement -- something a number of industry bodies have been working toward -- but a majority (57%) said they have no preference, while a third (34%) said they agreed somewhat or strongly.