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.
Media Briefing: The case for and against monthly and annual subscriptions in the battle for retention
There are no one-size-fits-all solutions for improving retention in a subscriptions business. While annual subscribers might stick around longer for some, other publishers will have better luck with monthly plans.
Digiday+ Research: The economy will hit the media and marketing industries this year, but differently
The economy will plague both the media and marketing industries in 2023, but the hit will be uneven between publishers and agencies.
Podcast ad buyers have yet to see a slowdown
Ad buyers have yet to see clients cut their podcast budgets – though the time of podcasts as the shiny new medium may be coming to an end.
SponsoredWhy Best Buy Ads sees retail media as integral to its customer-centric purpose
Sponsored by Best Buy Ads Retail media networks have become critical for marketers, with retailers investing in ways that enable advertisers to engage consumers across online and offline channels. Given the wealth of retailers’ first-party customer data and measurement capabilities, retail media networks have become a natural fit for augmenting performance marketing programs. Alongside the […]
The programmatic open marketplace is faltering, but publishers see a bright spot in private programmatic deals
Publishers are coming to terms with their open programmatic marketplace RPMs being 20-55% lower than they were this time last year, but the hope is that programmatic guaranteed deals will make up the deficit.
Marketers weigh the cons of working with Google Ad Manager amid Justice Department’s new lawsuit
When is it time to back away?