LG Ad Solutions expands into the Canadian marketThursday, July 13th, 2023
LG Ad Solutions Expands into Canadian Market Amid Growing Popularity of Connected TV Among Canadian Viewers
- 61% of Canadian TV viewers prefer to stream free, ad-supported content rather than pay for a subscription
MOUNTAIN VIEW, Calif. — LG Ad Solutions, a global leader in connected TV and cross-screen advertising, today announced that it has expanded its global presence into the Canadian marketplace. This expansion follows the hire of Jason Randall as Country Manager, Vice President of Sales, Canada. Randall previously held sales roles at AdTheorent, Verizon Media, Amobee, and Yahoo! Inc.
In conjunction, LG Ad Solutions released findings from its latest study of perceptions and behaviors related to connected TV among Canadian consumers. Titled, “The Big Shift: Canada Wave II,” the study surveyed more than 750 Canadian consumers in June 2023 and found that Canadian TV viewership is shifting away from linear TV with 26% of those surveyed saying they are watching less linear television than a year ago. In its place, FAST services are growing in popularity among Canadian consumers, with 61% preferring to stream free, ad-supported content rather than pay for a subscription. In fact, 24% of respondents spend 2-5 hours per week watching free, ad-supported TV apps.
Additional findings from the report include:
- Economic concerns are impacting subscriptions as over one in three viewers have canceled a streaming service to save money.
- 87% of Canadian connected TV users pay for one or more streaming apps, and more than half (55%) are willing to cancel a subscription after watching the desired content.
- While recommendations from family and friends (52%) are the top source for new content, nearly half (45%) of consumers use the homepage of their TV screen for new content. This is 16% more than the number for U.S. consumers.
“As consumers shift away from linear and subscription television viewing towards free, ad-supported content, advertisers have a tremendous opportunity to reach an audience that is looking to engage with brands that are on these services,” said Jason Randall, Country Manager, Vice President of Sales, Canada, LG Ad Solutions. “Compared to U.S. consumers, Canadian TV viewers are more likely to search online, visit a website, and talk about an ad or product after seeing a connected TV ad. With LG Ad Solutions’ expansion into the Canadian market, advertisers can effectively reach and engage this valuable audience that is more likely to convert.”
Links: LG Ad Solutions