The State of Europe’s CTV Landscape and Future Potential
In a span of few years, CTV advertising has become the center of attention. And why wouldn’t it be? CTV landscape continues to evolve across the world. However, Europe’s CTV scene isthe-state-of-europe-s-ctv-landscape-and-future-potential not as evolved and growth-driven as America’s.
Pandemic Crisis and CTV Industry
Amidst the pandemic crisis, the CTV sector rose to new heights in the U.S. Since people had no choice but to stay in their homes during lockdowns, many people decided to jump into the rabbit hole of streaming platform’s video content.
High Demand for Streaming Content
It is no secret that the demand for streaming content in the U.S. is at an all-time high. In fact, 2020 also saw record-breaking viewership and subscription numbers in VOD and ad-based video on demand. One research finds that more than 40% of TV users are likely to purchase a product after optimal user experience.
CTV in the U.S. and Europe
But the CTV landscape in Europe paints a different picture. Executive producers and partners concur that CTV needs a different approach in Europe. As of now, the CTV in America continues to thrive but diverse video content and advertising models can lead to the growth of CTV in European countries.
Video Streaming Demand in Europe
But in mid-2021, the demand for streaming content in Europe is on the rise. Now, this high demand may serve as a stepping stone to transform the CTV landscape in Europe. With the roll out of the vaccine, the pandemic crisis may become a thing of the past.
Ad-funded Video Streaming
But you can still expect a high video consumption rate across AVoD. However, the SVoD growth in 2021 may slow down because ad-based video formats still need room to grow. Fortunately, users across Europe are ready for ad-funded TV streaming content.
The Need to Understand European Cultures and Languages
CTV players that intend to expand into European markets should get familiar with their cultural norms, languages, traditional nuances. Alas, many CTV experts still don’t have a clear concept and strategy to implement broad VOD initiatives. Plus, there is also an urgent need to collaborate to cut down the language barriers.
European CTV Landscape, the Role of UK, and the Big 5
In Europe, it would be fair to state that the UK will remain a hub for CTV. But advertisers now want to expand their CTV market share throughout Europe and gain access to larger markets of Spain, Italy, France, and Germany.
It is crucial to understand that EU5 nations’ CTV system revolves around broadcasters. In fact, these broadcasters control most of the ad-funded video-on-demand services. The Big 5 has had some growth, but there is still a long way to get on the same wavelength as the U.S.