target audience: TECH BUYER Publication date: Jun 2023 - Document type: IDC Perspective - Doc Document number: # US50631124
IDC Perspective: Advertising Growth in Connected TV for 2023 Is Driving Media Technology Vendor Innovations for Native Cloud Services
Content
List of Tables
List of Figures
Get More
When you purchase this document, the purchase price can be applied to the cost of an annual subscription, giving you access to more research for your investment.
Related Links
Abstract
This IDC study highlights that the media and entertainment (M&E) and advertising industries are witnessing a shift toward solutions that are cloud native, smart, efficient, secure, and provide achievable total cost of ownership (TCO) targets that can leverage first-party data because of the emergence of connected TV (CTV) since this channel provides advertisers with a way to reach their desired audience with relevant ads at scale. The rapid growth of CTV is creating opportunities for advertisers to reach audiences in innovative and engaging ways, as consumers move away from traditional TV toward over-the-top (OTT) streaming platforms. Media companies that have invested in solutions that prioritize CTV interoperability are well-positioned to capture additional market share and achieve profitable growth.
Many of the vendors discussed within this document cover the top 3 areas of focus and overall theme at this past NAB 2023, consisting of "native" cloud service offerings, OTT and CTV streaming and AI/ML, and how together they can address TCO. Depending on where you are in the transition to cloud services, one or more of these vendors can provide consultation, strategic planning, and most important, native products/services that help lower costs and increase margins and profits.
"The growth of CTV brings forth an opportunity for media content creators, producers, programmers, and broadcasters to focus on innovative vendors that have clearly followed technology and market trends to offer M&E customers solutions to address today's challenging economic climate as they transition to cloud services," says Alex Holtz, research director, Worldwide Media and Entertainment Digital Strategies. "Customers that can quickly engage these vendors and partner with them on consultation, strategic planning, road map alignment, design, and business model TCO can cross this challenging chasm quickly, reliably, and securely to serve consumers profitably."