The launch of Go Addressable, an initiative dedicated to advancing addressable TV advertising, was announced in a press release. Paramount Advertising has joined as the inaugural programmer, joining founding members such as Charter’s Spectrum Reach, Comcast Advertising, DirecTV Advertising, and Dish Media.
Addressable TV advertising enables marketers to target specific households while they watch TV. New research from Go Addressable and Advertiser Perceptions reveals that 40% of TV advertisers plan to increase spending on addressable advertising by 2024 compared to 2023. The acceptance of addressable TV advertising has grown significantly over the past three years, with 50% of advertisers intending to start using addressable in the near future, up from 25% in 2021.
Despite the growing emphasis on connected TV advertising by brands, the traditional TV advertising sector continues to see innovations and developments. The recent establishment of Go Addressable’s trade organization indicates a sustained interest in this legacy medium. According to press materials, the group’s member companies have collectively facilitated an average of 68 billion linear advertising minutes per month, representing a significant 29% increase from 2022. Nielsen data cited in the release also reveals an average of 1.2 trillion live linear advertising minutes per month, indicating a continued strong presence in the advertising landscape. However, there is a clearly growing interest in more targeted and personalized advertising options.
The development of addressable TV is advancing, with 59% of respondents noting improved measurement and 54% reporting improved scale. Go Addressable, previously established as an industry initiative in 2021, has now become a formal nonprofit trade organization. Their focus will be on shaping the industry by introducing guidelines and monitoring adoption and usage trends. According to Larry Allen, board chairman of Go Addressable, the incorporation as an official trade organization will further enhance their ability to promote thought leadership, education, and awareness of this medium, as well as drive innovation in the future.
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.