• by Wayne Friedman , January 15, 2024

Although connected TV platforms will continue to grow and pull advertising dollars from other media channels this year, CTV will still suffer weak “performance” metrics, especially when it comes to its programmatic buys, according to a new survey.

Just 8% of advertisers ranked CTV as the number one way to achieve marketing performance through programmatic ad-buying systems, according to a Proximic by Comscore survey.

Advertising deals on web/mobile digital (49%) and social media (41%) are far ahead in this measure. Behind CTV sit audio/podcasts (2%) and digital out-of-home (1%).

“A key component of CTV becoming a performance driver will be advertisers' ability to measure its incrementality compared to other media channels,” say the authors of the study.

The bigger picture shows that the average percentage of media budgets allocated to each channel will see CTV rise to 17% (from 14%) a year ago, while linear TV will slip to 15% (from 16%). Web/Mobile digital will continue to dominate with a 31% share (slightly down from 32%), with social media remaining the same at 23%.

At a more granular level, the report says 43% of CTV increasing ad investment will come from linear TV. But CTV will also be taking from other channels as well: 34% say it will come from web/mobile digital; 22% from social media; and 11% direct mail.

The Proximic by Comscore report produced between November 14 and November 22, 2023 comes from nearly 200 advertising executives at brands, agencies and publishers who oversee programmatic advertising at their company.