This week, the IAB NewFronts event in New York is where digital publishers and streaming services are showcasing their programming and new digital ad opportunities. It's a chance to show advertisers how they can best connect with viewers, particularly younger ones.
U.S. digital video ad spend grew 21% in 2022, almost twice the rate of overall digital media. IAB CEO David Cohen highlighted the opportunity and challenge with this growth: “We are living in challenging and unpredictable times. There is a lot at stake and a lot up for grabs.”
NewFronts demonstrate that video has earned the attention from brands that television gets with their upfronts. Audiences are moving to streaming services for traditional TV content and younger viewers are spending time on short-form video content and playing games on their TVs and phones. Marketers must follow this space to reach their customers.
At the event, Samsung Ads announced their free ad-supported (FAST) service, Samsung TV. This includes adding Conan O’Brien TV as a channel to their FAST lineup, as well as expanded local news and weather content and partnerships with video game streamers Antstream Arcade and Blacknut. Three-quarters of U.S. households have at least one Samsung device, giving Samsung Ads device-level data on TV viewers. Samsung Ads also announced a new partnership with KERV Interactive to make ads on the platform shoppable and interactive.
Amazon’s FAST streaming service Freevee announced it will debut new original programming in 2024. Prime Video announced a new capability for national advertisers to send different commercials to different viewers through Amazon’s Fire TV devices and the NFL’s first Black Friday game will be free to view for anyone in the U.S. Amazon Live will have expanded live shoppable entertainment.
YouTube announced that its YouTube Select brand safety platform will become available to advertisers of YouTube Shorts content.
IAB CEO Cohen highlighted the need for the industry to move beyond third-party cookies and other identifiers to create an optimal customer experience that drives business outcomes. He believes a portfolio of solutions will be necessary to address addressability. Now is the time to get in the game.
Originally reported by Martech: https://martech.org/iab-newfronts-showcase-video-platforms-armed-for-challenging-and-unpredictable-times/
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