More than two-thirds (67%) of advertisers now report including some addressable television in their media plans, according to results of a new survey of 300 agency and brand decision-makers conducted for Go Addressable by Advertiser Perceptions.
That’s up from 50% indicating use of addressable in a similar survey conducted last October for Go Addressable, an industry initiative led by TV distributors with the goal of accelerating widespread adoption of these more refined ad-targeting capabilities.
Still, at least one in three of those polled are not using addressable, with 39% citing budget limitations and 23% citing “lack of value relative to cost” as the reasons.
One in two said they would increase their investments in addressable if better measurement and proof of return-on-investment (ROI) were available.
Among those currently using addressable, the top reasons were “provides better targeting (cited by 48%); “ability to measure/provide ROI” (46%); and “successful past performance” (37%).
In announcing the results, Magna Global Senior Vice President Strategic Investment Molly Finnerty specifically cited “tangible ROI” and “a demonstrated history of success” as having helped speed up use of addressable among the agency’s client base.
The survey found that nearly half (47%) of teams responsible for addressable TV advertising cover both linear and digital planning — “a vital and valuable approach, considering that addressable can span traditional TV and CTV,” notes the report.
Deloitte Global has forecast that addressable TV spending will reach $7.5 billion globally in 2022.
Go Addressable was launched last June by Altice USA, Charter Communications' Spectrum Reach, Comcast, Cox, DirecTV Advertising, Dish Media and Vizio.