63% Quarter-Over-Quarter Increase in CTV Client Growth
Inuvo, Inc., a leading provider of artificial intelligence (AI) marketing technology serving brands and agencies, today announced a 63% increase in quarter-over-quarter client growth for Connected TV (CTV) powered by its IntentKey® AI technology from Q1 2022 to Q1 2023. This continues the strong year-over-year trend coming off a 104% increase from ’21-’22. CTV, the delivery of video content through devices such as smart TVs, gaming consoles, and streaming devices, has revolutionized the way viewers watch television.
The IntentKey deduces just-in-time reasons why CTV viewers are engaging with content. These reasons become actionable household-level insights produced exclusively by Inuvo. This technology is designed to interact with the unknown individual in front of the screen through advertising the AI decides to show. The quarter-over-quarter growth is a strong indication of the value Inuvo delivers to its advertiser clients – higher conversion rates, lower wasted impressions, and ultimately a better return on investment.
Richard Howe, CEO of Inuvo, commented, “Our AI technology has determined that a vast majority of CTV conversions occur within the first 24 hours of expressed intent. Using this advanced AI, we can now effectively understand the needs, emotions, and intent of CTV audiences in real-time at the household level. For advertisers, this means their ads can be displayed to CTV audiences who have the highest level of intent as soon as it is expressed.”
According to eMarketer, CTV has become an essential medium within the overall mix of channels expecting the overall market size to double over the next five years calling it the “fastest growing format” in their ad spending forecast. However, up to this point, many advertisers have struggled to take full advantage of this growth due to a lack of intelligence associated with audience discovery. Consequently, consumers often see repetitive commercials or ones that are ill-aligned with their interests.
CTV was Inuvo’s fastest growing channel this past year and its surge has provided the company with even better access to premium inventory. “With our technology and audience discovery advantage, we aim to significantly outpace the already-rapid growth of the CTV sector overall,” concluded Mr. Howe.