Connected TV (CTV) advertising revenue is expected to exceed $40 billion by 2027, according to eMarketer. But for that promise to become a reality, standardization of the myriad CTV ad formats will need to be sorted out, says the IAB Tech Lab, an industry group responsible for establishing technical standards for the global digital advertising industry.
“CTV is experiencing explosive growth, but we’re still in the early stages of figuring out how to make it work at scale,” said IAB Tech Lab CEO, a nonprofit separate from the Interactive Advertising Bureau. Anthony Catur said. “The industry is full of promising new ad formats, but lacks the technical standards for widespread adoption.”
Enter Ad Format Idol, a new initiative devised by IAB Tech Lab that aims to establish such standards. One focus is standardizing how new CTV ad formats are accurately described within the bid stream. The organization hopes to streamline CTV advertising scalability and efficient programmatic transactions by creating common standards that enable a “build once, deliver anywhere” dynamic.
IAB Tech Lab is inviting stakeholders across the digital advertising ecosystem to submit their most successful CTV ad formats for consideration from Tuesday, October 22nd to January 22nd. Each entry is then evaluated by a task force appointed by the IAB Tech Lab’s Advanced TV Commit Group. Once that assessment is complete, the organization’s Advanced TV Working Group and Programmatic Supply Chain Working Group will work to merge all learnings and update their respective specifications.
Ad Format Idol will be attending key events, starting with the IAB Tech Lab’s International Summit in London on November 5th, and the industry association’s “I Want My CTV” conference in New York City on December 5th. It will be showcased at industry events.
Ken Weiner, GumGum’s Chief Technology Officer and IAB Tech Lab Director “We are looking for ad formats that have the potential to:” the statement added. It’s about identifying ad formats that can overcome complexity and transform the way advertisers engage with their audiences. ”
Separately and relatedly, a new IAB report, “IAB CTV Video Ad Format Landscape: How Standardization Can Drive Programmatic Growth and Innovation in CTV,” finds that a wide range of industry groups It emphasizes what it describes as “an urgent need.” .
“While this shows the industry is buzzing with creative ad formats, scaling it across platforms remains a huge challenge,” Cynthia Gavilan, vice president of media centers at IAB, said in a statement. said. Already programmatic, advertisers need standardization to scale investment and buying efficiencies, and this effort will overcome fragmentation and ensure these formats can thrive across the CTV ecosystem. is set for. ”
