In an age where traditional TV is gradually being overshadowed by digital platforms, Connected TV (CTV) has emerged as a dominant force in the entertainment industry. This shift is particularly pronounced within the Hispanic community in the United States, a demographic known for its rich cultural diversity and rapidly evolving media consumption patterns. In our exclusive interview with Marcos Sosa, OTT Product And Video Strategy Director at Digo, we delve deep into how the Impact of CTV is transforming the way Hispanic audiences engage with content.
Digo’s Innovative CTV Solution
Sosa begins by outlining Digo’s new CTV solution, which is tailored specifically for advertisers targeting the U.S. Hispanic population. “For the past 5 years, we’ve been diligently crafting our Premium US Hispanic Audience Network,” Sosa explains. “Digo built its solution by working closely with top US Hispanic publishers from Latin America and Spain. This effort allows us to expand our offer to our advertisers and clients as we finally start to engage with audiences such as Bi-Culturals, 2nd and 3rd generations of US Hispanics, who are plugged into more innovative content channels.”
When asked about the content formats that show the most promise, Sosa notes, “CTV is undergoing substantial growth, with the Hispanic audience leading this trend.” He emphasizes the potential of long-form content like series, movies, and documentaries, citing their ability to captivate viewers and offer more substantial engagement metrics for advertisers.
Device Preferences and Viewing Habits
Sosa also sheds light on device preferences among Hispanic viewers. “While CTV remains our primary focus, we’ve noticed a surge in mobile activity,” he says. This observation aligns with the trend of increased viewership on mobile devices and SmartTVs, pointing to a diverse range of media consumption habits within the community.
I’d say the long-form content can see particularly high growth opportunities.
“The impact of CTV, in general, is undergoing substantial growth, with the Hispanic audience leading this trend. In the first quarter of this year, Hispanic adults aged 18-49 spent the majority of total time on TV with streaming content, according to Nielsen Hispanic Report 2023,” he explains and ads: “Even though both long and short formats are experiencing growth, I’d say the long-form content, such as original series, movies, and documentaries that resonate with Hispanic audiences, can see particularly high growth opportunities. The factors around this statement are that users can pay closer attention, the time on screen is higher, they are sitting on their couch in the comfort of their homes, and KPIs are much more interesting for advertisers on long-form content.
We’ve seen an insane increase in mobile devices in general in the past 10 years, but SmartTVs still have a lot of potential growth.
Discussing the future of advertising formats in CTV, Sosa insists on the potential of non-skippable 15-second ads. He predicts these will keep dominating the landscape in the coming years and the emergence of more innovative formats. “We expect more interactive formats to engage with the user, where we could see metrics such as clicks, CTR, and conversions.”
“The fact is that mobile devices keep increasing the amount of viewership while driving the increase of SmartTVs. We’ve seen an insane increase in mobile devices in general in the past 10 years, but SmartTVs still have a lot of potential growth. ”
Sosa highlights significant shifts in advertising spends, with sectors like Entertainment, Retail, CPG, Automotive, and Pharma increasingly investing in CTV. He references a report indicating a decline in linear TV advertising spends in favor of digital platforms.
Addressing Measurement and Viewability Challenges
On the topic of measurement and viewability in CTV, Sosa stresses the importance of partnering with premium publishers to ensure quality and accuracy. “For several years now, we’ve been leveraging Double Verify as our verification tool across Display, Video, and now CTV. They serve as our trusted, neutral reviewers in ensuring quality and accuracy,” he says.
They serve as our trusted, neutral reviewers in ensuring quality and accuracy.
Digo’s Content Production and Monetization Strategy
Finally, Sosa reveals Digo’s plans to launch its own FAST channel and OTT platform by 2024, aiming to bolster its inventory strategy with unique content. He emphasizes the importance of differentiation and exclusivity in their CTV strategy, highlighting Corripio’s role as a key partner in this endeavor.
We’re crafting our FAST channel and OTT platform, set to launch by 2024.
“We’re crafting our FAST channel and OTT platform, set to launch by 2024. This initiative is poised to strengthen our inventory strategy in 2025, featuring not only fresh content but also introducing a proprietary Hispanic streaming platform. Differentiation and exclusivity are the key factors for our CTV strategy, and having Corripio as a key partner plays a pivotal role in refining our offerings and solidifying the foundation for building our distinctive trademark.”
Marcos Sosa’s insights provide a fascinating glimpse into the evolving landscape of the impact of CTV and its growing significance within the Hispanic community in the U.S. As the media consumption habits of this influential demographic continue to evolve, CTV stands poised to play a pivotal role in shaping future entertainment trends.
