Moloco, a leader in operational machine learning (ML) and performance advertising, in collaboration with the independent research company YouGov, has unveiled the findings of the “Consumer Perceptions of Ads on Streamers Survey 2024.” The survey, conducted among over 1,000 U.S. consumers, highlights a significant shift in consumer habits from traditional TV to streaming platforms. EMARKETER projects that Connected TV (CTV) ad spend will hit $30.10 billion in 2024, presenting a vast opportunity for advertisers to leverage personalized ads and innovative ad formats to enhance viewer engagement and drive outcomes.
1. Shift in Consumer Behavior:
- A growing number of consumers are moving away from traditional TV to streaming media platforms.
- Device Preferences:
- 55% of U.S. consumers primarily use Smart TVs for personal streaming.
- 24% use mobile devices, 13% use laptops/PCs, and 7% use tablets.
- Cord-Cutting Trends:
- 42% of U.S. consumers have already cut the cord with traditional TV services.
- An additional 22% are considering cutting the cord but have not yet done so.
2. Ad Preferences and Impact:
- More than 60% of U.S. consumers prefer lower subscription fees in exchange for watching ads.
- Ad Formats:
- 26% believe that interesting and relevant ads enhance the viewing experience.
- Pre- and post-roll ads are deemed most acceptable, whereas mid-roll and banner/display ads are seen as intrusive.
- Influence of Ads:
- 37% have canceled a subscription due to a poor ads experience.
- 57% prefer personalized ads, with 37% favoring ads based on viewing habits and 20% based on both viewing habits and personal data.
- 45% report that ads on streaming platforms influence their purchasing decisions.
Expert Insights
Dave Simon, General Manager, Growth Initiatives, Moloco:
- Emphasized the importance of creating a positive ads experience to prevent subscription cancellations.
- Highlighted the consumer demand for relevant, personalized ads that enhance the viewing experience and influence decision-making.
Vanessa Khoo, Senior Research Manager, YouGov:
- Noted that consumers are not only adjusting to ads on streaming platforms but are also finding them compelling and influential.
- Indicated that personalized ads could enhance the overall viewing experience, making them a valuable tool for advertisers.
The “Consumer Perceptions of Ads on Streamers Survey 2024” underscores the critical need for streaming media platforms to adopt a personalized approach to advertising. As consumers continue to shift from traditional TV to streaming services, the preference for personalized and less intrusive ads presents an opportunity for advertisers to drive engagement and outcomes. Leveraging advanced machine learning at scale can help meet these consumer demands and transform the ads experience on streaming platforms.