Entertainment Technology Summit
As the world of connected TV (CTV) advertising continues to grow, the developing field begs the question: will CTV ad spending slow any time soon? “Where the audience goes is generally where…
As the world of connected TV (CTV) advertising continues to grow, the developing field begs the question: will CTV ad spending slow any time soon?
“Where the audience goes is generally where the ad dollars go… so I think you’re looking at many, many more years of really explosive growth. We’re still for the most part at the starting line for this, not anywhere close to the finish line” said Mark Douglas, president and CEO of MNTN, an advertising company that helps brands advertise on connected TV. “It’s just a really exciting time for all the companies that are participating in this ecosystem as well as for all the advertisers and brands that are now benefiting from it.”
“Some are just starting, some are in the 10-25% of budget range,” said Douglas of companies that already advertise on TV, when asked what percentage of brands’ budgets currently go toward CTV. “The ones that have linear budgets, there’s going to be agencies involved and others. So it’s kind of a big discussion of, how do you allocate? Where do you allocate the dollars as opposed to just following the data?”
Douglas shared these thoughts with Variety Intelligence Platform media analyst Kevin Tran at the Variety Entertainment and Technology Summit sponsored by MNTN. Douglas and Tran discussed the importance of understanding the field of CTV advertisement as a whole as opposed to following old patterns in order to best remain creative and mission-oriented.
Recently, MNTN acquired Maximum Effort Marketing, the creative advertising agency of Ryan Reynolds and George Dewey, furthering MNTN’s own efforts to remain creative and best service ad clients.
“We shared a lot of vision around advertising. And we both shared this vision where streaming was becoming this digital medium and wanting the storytelling part of advertising to be something that is not left behind,” said Douglas. “And we have some pretty exciting stuff we’re planning to introduce later this year.”