Parks Associates’ latest white paper, Interactive & Shoppable TV: Next Wave of CTV Revenues, released in partnership with Adeia, focuses on the service provider opportunity to advance the consumer experience and build on expectations of interactivity and specifically engage in commerce through the TV.

Parks Associates forecasts that by 2029, more than 278 million viewers will watch subscription ad-supported streaming and that consumers are open to expanded commercial experiences on the TV.

“Industry players can take productive steps today to advance the interactive TV experience for viewers and advertisers by connecting workflows, making effective use of available data, and optimising user experience elements for interactivity,” said Jennifer Kent, Vice President, Research, Parks Associates. “Success involves building sustainable, scalable solutions for the long term rather than quick, band-aid solutions that address only immediate challenges.”

The white paper highlights consumer interest, use, and preferences for interactive features across TV and mobile viewing devices and platforms, including shoppable advertisements. Research highlights include high demand for commerce and advertising in CTV:

• 52 per cent of US internet households are likely or very likely to perform at least one commercial activity through a CTV platform.
• 82 per cent see streaming ads through a combination of free streaming services, ad-based tiers of subscription streaming services, and vMVPD services that feature ads as part of their live/linear bundles of channels.
• 59 per cent subscribe to an ad-based tier of an SVoD service, like Netflix, Disney+, or Peacock.
• 47 per cent watch free ad-based streaming services, like Tubi, Pluto, and The Roku Channel.
• 22 per cent watch streaming pay-TV services, vMVPDs, like YouTube TV, Hulu + Live TV, or Philo.

The rise in adoption of ad-based services creates a foundation for additional revenues as well as opportunities to engage viewers in new ways through more interactive and personalised experiences. Shoppable features and direct transactional opportunities can turn social and video content into a more direct sales channel, blurring the lines between entertainment, content consumption and e-commerce, concluded Parks Associates.

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Tags: advertising, CTV, Parks Associates, Shoppable TV