Is Anybody Out There?
TV, NetFlix, AmazonPrime, YouTube, TikTok, Instagram - there’s certainly no shortage of mediums brimming with video entertainment and advertising. With so many channels of information, it's no wonder that many people question the relevance of TV in today’s world. Does TV still have the reach and power that it once had when there were fewer players on the scene? Where does TV sit in terms of popularity when compared to the newer forms of video out there? Let’s find out:
The Reach of TV
One of the unique components of TV is it’s combination of reach together with the huge volume of time spent watching TV, making it an even more powerful form of advertising. People are still watching TV! An estimated 28 million Canadians will be tuning in to TV in 2022 (Statista).
But TV’s reach isn’t confined to just North America. Based on the compiled data, TV reaches approximately 70.1% of Europe’s population daily, with an average daily viewing time of 3hrs 39mins. In Finland, television reaches 95.6% of the population within a month, and reaches 99.2% of the Portuguese population weekly (ThinkBox).
TV remains the world’s favourite form of video. On average, TV accounts for 90% of the average viewer’s video time. For the younger millennial audience, who are more likely to experiment with other forms of video, TV still accounts for the largest proportion of their video time at around 73% of the total (ThinkBox).
In Switzerland, TV accounts for 86% of all video time for the total population.
In Ireland, TV accounts for 69.4% of all video time for 15-34-year-olds.
TV: A Trusted Source
TV is by far one of the most trusted sources of advertising available today, and remains most likely to make consumers laugh, move them to tears or trigger emotions. In Canada, 70% of 18-34 year olds named TV the most trustworthy source of media compared to 12% for online video (ThinkBox), and it’s not just in Canada - it’s true around the world. In the UK, 42% named television as where they were more likely to find advertising that they trust, compared to just 6% for YouTube and 5% for social media (ThinkBox).
But How Effective is TV Advertising, Really?
According to The Global TV Group, TV still offers the strongest contribution to sales, the highest impact of awareness and the highest return in profits with the least amount of risk. Despite the many channels in which people now receive information and advertising, TV drives 3x greater sales volumes than any other medium (The Global TV Group).
Even at lower investment levels into TV advertising, TV still has a big impact on brands; getting them seen, heard and talked about more quickly than through other mediums.
Studies around the world demonstrate TV’s many effects – and the positive impact it has on other media:
In France, on average TV ad campaign achieves sales revenues of €4.9 per €1 invested.
In Italy, TV generates nearly three times the brand recall of Web ads (60% vs 18%).
In the US, TV delivered the highest return on investment of all media for every dollar spent.
In France, the traffic of an advertiser’s website during a TV campaign increases by 61%.
TV is the media which generates the highest brand equity in Mexico, contributing a 28% share of contribution (Thinkbox).
TV: A Powerful Marketing Tool
Despite all the new forms of media and sources for video out there today, TV remains an incredibly powerful tool for advertising due to its combination of reach together with the huge volume of time spent watching TV. The consumer trust that has been fostered over the years in TV is not something that appears to be going away anytime soon either, with 70% of 18-34 year old Canadians naming TV trustworthy compared to just 12% for online video. With 3x greater sales volumes than any other medium, it doesn't seem to matter what size of TV ad campaign you launch, as long as you launch one!
Contact 5Gear Studios today to find out more about how we can help you harness the power of TV advertising. We can’t wait to hear from you!
Sources:
Satatista, “Predicted number of TV viewers in Canada from 2018 to 2022 (in millions)”, Media, TV, Video & Film. 2022. Web.
ThinkBox.tv, “Why TV Remains the World’s Most Effective Advertising”. News & Opinions, Newsroom, November 2020. Web.
The Global TV Group, “TV Drive Business Outcomes”. The Global TV Deck, Why TV?, May 2021. Web.