LG Electronics has partnered with video advertising platform Unruly that enables advertisers around the world to access native smart TV ad placements through its supply-side platform, UnrulyX. With the partnership, Unruly can now provide brands with "unique reach and uncluttered, highly-viewable placements" that drive action across all LG Smart TVs and video within the LG Channels app globally. LG will also utilise Unruly’s self-service platform to manage and optimise its own campaigns globally.
According to a press release, the partnership will provide advertisers access to an engaged viewing audience, native banner and video placements that add value to the customer experience and customisable interactivity with contextual alignment that drive brand objectives.
The collaboration comes as Unruly found a recent spike in connected TV (CTV) viewership according to its recent research. The company also found that among the increased number of CTV users, 57% of them trying out new ad-supported services, of which 81% said they will continue using the services. Additionally, the research also revealed that after viewing an ad, ad-supported CTV users are 52% more likely to buy a product compared to linear TV viewers.
Edward Lee, head of webOS ad business at LG Electronics Home Entertainment Company, said with the partnership, it will now be able to grow its CTV businesses on a global scale using Unruly's data and custom audience. “We applaud Unruly’s continued effort to help advertisers reach only the most engaged audiences and offer them the most relevant ad experiences,” he added.
Ken Suh, chief strategy officer at Unruly, added: "During COVID-19 in particular, it’s more important than ever to help advertisers realise the true value of their ad inventory and maximise yield. We’re excited to partner with LG to grow its CTV advertising globally."
LG's push to grow its CTV businesses also come at a time where the over-the-top (OTT) market is booming. Earlier this year, global tech market advisory firm ABI Research said that the OTT video market will surpass US$200 billion by 2024, with 90% of that value fueled by subscription and advertising revenue. According to the study, streaming services such as Disney+ and Apple TV+, coupled with aggressive pricing and packaging, and continued expansion by incumbents are pushing the subscription video on demand market to new heights. Even local player Cathay Cineplex entered the market this September, launching its video service Cathay CineHome in Singapore to allow movie lovers greater flexibility on how and when they want to watch their favourite films.
The rise in OTT ad dollars has also most recently seen data firm Milieu partnering with another video advertising platform SpotX launch a campaign uplift solution for OTT advertisers. The new solution will measure the impact of OTT ad campaigns on brand metrics such as awareness, consideration and purchase intent for advertisers across Southeast Asia. According to SpotX, the partnership would provide "rich and actionable insight" into the impact of OTT advertising campaigns to advertisers through Milieu's mobile panel-based data analytics platform.
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