Launch of Google TV Ad Platform for Smart TVs and Streaming Devices
Google has launched an ad platform for smart TVs and streaming devices running on Google TV. This Google TV ad platform enables marketers to place nonskippable in-stream ads on over 125 live channels, many of which belong to the growing free ad-supported television (FAST) sector. Advertisers can also take advantage of home screen and masthead placements.
With 20 million monthly users on Google’s smart TV and Android TV OS devices and an additional reach of 150 million viewers on YouTube, the potential for advertisers is immense. Users spend an average of 75 minutes daily watching free shows on Google TV, highlighting the substantial engagement opportunities available. The new ad network integrates seamlessly with Google Ads and Google Display & Video 360, allowing marketers to easily include Google TV in their campaigns. This integration means ads can now be displayed across various networks and third-party apps on Google TV, expanding the scope for targeted advertising.
Industry Context
The rise of FAST channels has been a significant trend in the US, driven by the increasing costs of subscription-based services. Consumers are turning to alternatives such as Amazon’s Freevee, Pluto, Tubi, and Roku, all of which have experienced substantial growth. The Google TV network is a timely addition for advertisers seeking to capitalize on this shift.
Benefits for Advertisers
The Google TV ad platform offers numerous advantages, including access to a large and diverse audience at a lower cost. Unskippable ads on Google TV’s free streaming channels provide a significant inventory of affordable advertising opportunities, allowing brands to reach viewers passively. Advertising on FAST platforms is cost-effective, with CPMs ranging from $10 to $15, compared to $25 to $47 CPMs on premium streamers like Hulu and Netflix. This affordability makes FAST an attractive option for advertisers aiming to maximize reach without overspending.
Many cord-cutters prefer a viewing experience similar to traditional TV, with continuous content and ads serving as background noise during activities like ironing. This ‘lean away TV’ approach allows viewers to look away without missing crucial plot points.
Competitive Landscape
As Google expands its CTV (connected TV) presence, it faces competition from players like Amazon and Roku. However, Google’s vast YouTube audience and innovative AI technologies position it well in the market. Google’s commitment to ongoing innovation suggests that the Google TV network will continue to evolve, offering new and improved ways for advertisers to engage with viewers.
Conclusion
The rise of unskippable ads on FAST platforms presents a significant opportunity for brands that previously couldn’t afford video advertising. Historically, high video production costs led to a dominance of print ads. However, the democratization of video ad creation and buying now offers brands new storytelling avenues to reach broader audiences.
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