Connected TV (CTV), also referred to as over-the-top (OTT), is ads that can be placed on any TV or device that can be connected to the internet and access video streaming content beyond what is available via the normal offering from a cable provider. CTV includes ads bought programmatically and shown on consoles, computer/mobile streaming, gaming devices, over-the-top (OTT), or Smart TVs.
CTV advertising is a form of private marketplace (PMP) deal. The programmatic media buying ecosystem operates with multiple levels of auctions, with each level of the “waterfall” holding its own parameters for price and access. The private marketplace inventory sale sits just one auction level above the open exchange but affords marketers the chance to access specific placements in an auction of fewer bidders, making win rates higher.
The private marketplace is invite-only (we’re talking VIP, people!) containing a collection of high-caliber publishers. It also offers access to inventory within specific site sections, sub-sections, or creative formats that may not be specifically targetable in the open auction environment. Creative formats available in a private marketplace include display, video, audio, native, and connected TV.
For marketers that have used traditional TV advertising for awareness-based campaigns because the channel offers the ability to reach highly-engaged audiences. Connected TV offers these same benefits but enables enhanced targeting options and inventory selection to create an efficient channel for reaching a growing market.