DUBLIN--(BUSINESS WIRE)--The "TV Advertising Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global tv advertising market as it emerges from the COVID-19 shut down.
The global tv market is expected to grow from $88.83 billion in 2020 to $92.33 billion in 2021 at a compound annual growth rate (CAGR) of 3.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $93.74 billion in 2025 at a CAGR of 0.4%.
Companies Mentioned
- CBS (Columbia Broadcasting System)
- Comcast Corporation
- Viacom Inc.
- Gray Television Inc.
- Sinclair Broadcast Group
- Sun TV Network
- The Walt Disney Company
- Time Warner Cable
- TV Today Network
- Vivendi SA
- British Broadcasting Corporation
- Cox Communication
- Discovery Communications Inc.
- Fisher Communication
- LiveRail
- TBC
- Univision Communication
- WPP
- Omnicom Group
- DENTSU INC.
- Publicis Groupe
- IPG
- Havas
- Jacob Tyler
- Division of Labor
- THIEL
- Anchour
- ThreeSixtyEight
- Daniel Brian Advertising
- Gumas
- BayCreative
Reasons to Purchase
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The TV advertising market covered in this report is segmented by service type into terrestrial; multichannel; online. It is also segmented by the delivery platform into cable television; satellite television, by broadcasting services into advertisement; subscription, and by time slot into 20 seconds; 60 seconds; more than 60 seconds.
In September 2020, Red Ventures, a US-based marketing and advertising company, acquired CNET Media Group from ViacomsCBS for an amount of $500 million. This deal will help Red Ventures to grow personalized consumer experience and expand into consumer technology and gaming by securing network websites which will include CNET, GameSpot, and ZDNet. CNET Media Group is a leading US-based online media company under ViacomCBS, which is a US-based mass media company formed by the merging of CBS Corporation and Viacom.
The increased use of over-the-top (OTT) media services is expected to drive the growth of the TV advertising market. OTT offers reach and retention as the video advertisement is 100% viewable and non-skippable. For instance, on OTT platforms such as Netflix, Amazon Prime Video, and Disney+, advertisements are non-skippable and is 100% viewed by the subscriber. These advertisements are known as Subscription Supported Video-on-Demand Services. When such ads are viewed by the audience, it reinforces the brand's message. As per IPG Mediabrands Magna reports, OTT video ad spending is growing at a faster rate than any other channel and expected to reach $5 billion by the end of 2020. Thus, the increased use of over-the-top (OTT) media services is driving the market for TV advertising.
The low assurance that the advertisement will be viewed and effective is the major obstacle for the TV advertising market. Numerous individuals change the channel when an advertisement comes up during the show break. Additionally, individuals, these days use smartphones during advertisements until their show returns, which results in less consideration towards the promotions. According to a survey published by VIEO Design, 64% of the people find ads annoying and intrusive. For instance, recently after the merger of Vodafone and Idea, an ad commercial was released to announce the VI logo. Since the release of the commercial, it was aired on every single TV channel on a recurrent mode which led to irritation among the TV audience leading to less frequency of viewing of the ad. Thus, such factors restrict the growth of the TV advertising market.
For more information about this report visit https://www.researchandmarkets.com/r/r614cv
