Dive Brief:
- Go Addressable, an initiative meant to advance addressable TV advertising, has formed as an industry trade organization, according to a press release. Paramount Advertising has joined as inaugural programmer, alongside founding members Charter’s Spectrum Reach, Comcast Advertising, DirecTV Advertising and Dish Media.
- Addressable TV advertising allows marketers to reach individual households while they are watching television. Forty percent of TV advertisers expect to spend more on addressable advertising in 2024 compared to 2023, according to new research from Go Addressable and Advertiser Perceptions.
- Addressable TV advertising has been gaining acceptance over the past three years, with 50% of advertisers planning to start using addressable in the year ahead, up from 25% in 2021.
Dive Insight:
While connected TV advertising has become a bigger focus for brands, innovations in traditional TV advertising and the recent formation of Go Addressable’s trade organization suggests many are still interested in the legacy medium. The group’s participating companies have helped facilitate an average of 68 billion linear advertising minutes per month, a 29% increase from 2022, per press materials. While there is an average of 1.2 trillion live linear advertising minutes per month, per Nielsen data cited in the release, there is a growing interest in more targeted options.
The news comes as addressable TV continues to evolve, with 59% of those surveyed saying measurement has improved while 54% indicated scale improved. As a formal nonprofit trade organization, Go Addressable — which originally formed as an industry initiative in 2021 — plans to focus on shaping the medium by introducing industry guidelines and tracking adoption and usage trends.
“[Our] incorporation as an official trade organization will further enable us to amplify our thought leadership and education rooted approach to raising awareness and adoption of this medium, as well as drive future innovation in this space,” said Larry Allen, board chairman, Go Addressable, in a press statement.
In addition to Paramount, other members of Go Addressable include Altice USA’s a4 Advertising, Charter Communications’ Spectrum Reach, Comcast Advertising, DirecTV Advertising and Dish Media.
