Programmatic platform Teads on Wednesday enhanced its media offering by adding connected TV ad inventory, allowing brands potential access to some 2 billion unique users. Digiday has learned.
During beta testing, Teads partnered with various brands across different categories and said it saw positive outcomes up and down the purchase funnel, including high attention to brand awareness and purchase intent. The CTV service is launching in the U.S. first, with additional markets getting rolled out later this year.
Teads said creative from its video format led to an average of 40% better ad recall via broader creative testing it did with optimized creative vs. the original creative. Additionally, Teads said it measured a 23% uptick in attention compared to the CTV benchmark of attention measurement providers, 7.6% rise in awareness, 8% bump in purchase intent and around 80% tune-in conversion rate.
“Extending this offering across CTV enables us to apply the same rigor to make those ads work smarter and deliver better business outcomes,” said Jeremy Arditi, co-CEO of Teads.
Teads runs a cloud omnichannel service for programmatic digital advertising, providing a one-stop shop of sorts for advertisers and agencies to buy inventory from publishers and content providers. After testing the addition of CTV for one year, the company is aiming to tap into this new channel across every screen. Brands will get access to features such as omnichannel attention measurement, frequency capping and remarketing on the platform.
With TV inventory in the mix, brands can now buy across TV, mobile and desktop to capitalize on some of Teads’ existing publisher relationships. With Scripps, for example, they will get access to cross-screen audiences. Its publishers’ slate also includes more than 75% of the Comscore 300 editorial publishers globally, including BBC and Bloomberg.
But with the market flooded with CTV inventory, experts say the size of Teads’ audience and growth potential may be limited after this initial rollout. In 2020, CTV was largely credited for the digital video sector’s resilience throughout COVID, according to IAB. And analytics platform Adjust predicts media spend will reach $19 billion by the end of 2024, with 82% of households now reachable through a smart television.
“As we all know there is a gluttony of streaming and CTV options in the marketplace,” said Stacy Durand, CEO of Media Design Group. “Everyone is fighting for the same eyeballs, and consumers are only willing to open their wallets for amazing programming. To compete, Teads will need to invest in quality content, and even then it will be tough.”
Brandon Biancalani, head of paid advertising at Modifly, said choosing a CTV media provider is getting more complicated, from getting reporting capabilities to showing transparency in the ad buying process. Biancalani told Digiday that Teads’ expansion will need a strong differentiating factor from its CTV ad platform competitors such as Criteo.
“The world does not need just another CTV platform, but one that can holistically help guide creative performance into the correct areas, be innovative in adapting to industry trends, as well as cover all reporting needs above and beyond the rest,” Biancalani said. “Despite what most platform providers will say, there is still a large gap between dollars spent and efficiency in outcomes when it comes to most CTV advertising.”
However, Teads could gain an advantage through its creative and performance reporting, he added. If the company can continue to test and evolve as it does with existing services, there might be a strong proposition for partners. Biancalani pointed to Teads only charging advertisers for completed video views and showing initiative in adapting to cookieless targeting.
Teads employs more than 1,200 people in 50 offices across more than 30 countries. The company has worked with Pernod Ricard, Samsung and Nike.
More in Media
Media Briefing: Efforts to diversify workforces stall for some publishers
A third of the nine publishers that have released workforce demographic reports in the past year haven’t moved the needle on the overall diversity of their companies, according to the annual reports that are tracked by Digiday.
Creators are left wanting more from Spotify’s push to video
The streaming service will have to step up certain features in order to shift people toward video podcasts on its app.
Digiday+ Research: Publishers expected Google to keep cookies, but they’re moving on anyway
Publishers saw this change of heart coming. But it’s not changing their own plans to move away from tracking consumers using third-party cookies.