Auto Advertising Gains Horsepower: Video Insights from Innovid iQ
In April 2021, total video impressions grew 81% year over year. Video impressions served via connected TV (CTV), in particular, grew 107% year over year last month and has accounted for the largest share of video impressions for 2021 to date. Perhaps no industry better encapsulated this CTV trend than auto, which saw a massive spike in CTV video impressions last month. Let’s dive into the highlights from our latest Innovid iQ release:
Auto Gains Horsepower
Auto had a tremendous April. Total CTV impressions grew 430% year over year and accounted for nearly two-thirds (63%) of all auto video impressions. CTV wasn’t the industry’s only area of focus, though; mobile and PC video impressions also increased significantly (204% and 86% year over year, respectively). What’s more, video impressions served via programmatic, social, and digital publishers all grew by over 200% year over year. This is above and beyond where the industry stood in April 2020, when U.S. auto sales hit a 30-year low and advertisers drastically reduced ad spending.
When Consumers Spend, Advertisers Spend
Retail sales jumped in March as consumers rushed to spend a fresh batch of stimulus checks, and economists expect overall consumption growth to continue throughout Q2. As consumers become more comfortable opening their wallets again, so, too, do advertisers. Last month, total video impressions for retail increased 221% year over year. TV impressions (+298%) saw the highest annual growth, though mobile impressions nearly doubled (+198%) and accounted for the highest share (43%) of total retail video impressions in April.
While auto and retail stole the show, CPG and pharma also delivered promising numbers. For a complete picture of the state of video advertising, check out our Innovid iQ dashboard, and sign up to receive alerts so you’ll never miss out on new insights.