How the Olympics will boost connected TV advertising
Connected TV (CTV) promises to combine the attention-grabbing value of the big screen and quality long-form content, with the targeting and personalization of digital. For many media companies and their advertisers in Europe, that promise has not yet fully materialized, but 2024 might be the tipping point. Kantar found that across the five largest European companies, smart-TV penetration was at 64%. And LG Ads found that 52% of UK viewers plan to stream Euro 24.
Livestreaming one game is the first step in CTV adoption. The Olympics will provide a window into the next phase, where everyone watches something different. People will be taking advantage of CTV in novel ways, creating new habits that could shape the future of CTV advertising in Europe and beyond.
Why the Olympics is different
The Olympics presents the first clear opportunity to rethink everything from targeting to personalization to interactivity in sports content.
The 2022 World Cup had only 64 official games, which equates to only a few hundred hours of broadcast content. The Olympics will have more than 10,000 hours of content. Not only that, but the content will be much more varied. People can choose from track and field, gymnastics, swimming and much more.
It’s estimated that almost 1 billion people will watch the games, but with so many different types of competitions to choose from, everyone will have their own viewing pattern. In Europe, different media companies have the streaming rights in each country, with a variety of different ways that they will present their content to viewers. Each streaming company will also be selling advertising to brands that want to reach specific audiences or attach their brand messages to specific content.
Media companies can use the Olympics as a time to learn about viewing habits, help advertisers embrace CTV-specific advertising opportunities like contextual targeting, and introduce interactivity to viewers to shape new habits.