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Annual Report 2023

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FY2023 Annual Report · Nielsen
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2023 Annual
Marketing Rep rt

The need for consistent measurement 
in a digital-first landscape

Table of contents

Foreword

Introduction

Key survey findings

Industry insights

      Digital spend edges out other investments amid economic headwind

      Global ad budgets are leaning into CTV

      Confidence in holistic ROI measurement is low

      Increasing complexity inhibits measurement confidence

Our takeaways

      Investments today can save money in the long term

      The future is here: embrace a comparable measurement mindset

      Increase your ROI by reaching more of your target audience

About this report

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Copyright © 2023 The Nielsen Company (US), LLC. Confidential and proprietary. Do not distribute.

2

Foreword

There is no shortchanging the complexity that comes with 
being a CMO today. But at the same time, complexity doesn’t 
grant CMOs any leeway when it comes to delivering for their 
businesses or justifying their marketing investments. In reality, we 
know that increased complexity simply amplifies accountability.

Whether it’s managing with constrained resources, understanding 
audience engagement with new media channels, assessing 
measurement tools and tech stacks, identifying the right data 
partner, or all of the above—complexity is both a unique and 
universal challenge.

In a complex world, with media channel proliferation,  
it’s imperative to find comparability—to ensure data and 
measurement integrity and consistency in order to find clarity  
and true outcomes success.

It sounds simple to say that we live in a complex world. But it’s  
the CMO’s job to navigate that complexity, make the right 
decisions, spend in the right places and ultimately deliver for 
the business. That responsibility comes with increased weight, 
especially as the level of noise to wade through is forever 
increasing—and resources are constrained.

Throughout history, marketers have navigated complexity by, 
first-and-foremost, keeping the customer as their North Star. 
In the world of media management, that means ensuring you 
stay relevant and connected with audiences where they are—
in traditional channels and new ones—which, admittedly, can 
require a period of opacity as measurement and data ramp up.

This edition of our Annual Marketing Report illuminates the path 
forward—albeit a windy one. For marketers, that means focusing 
on the customer, testing new channels, learning where to pivot 
and leaning into new capabilities. And with the audience in mind, 
it’s critical to leverage the highest quality inputs and data to 
inform your way forward.

Jamie Moldafsky
Chief Marketing and Communications Officer

Copyright © 2023 The Nielsen Company (US), LLC. Confidential and proprietary. Do not distribute.

3

Introduction

Few changes in the media industry are as defining as audiences’ 
relationship with television. Originally developed to receive analog 
programming from nearby broadcast stations, today’s television is  
simply an oversized screen—one that can deliver anything the 
internet has to offer.

With the growing proliferation of smart TVs1 and the content they 
enable, brands have an emerging channel to engage audiences 
with—one that comes with more flexibility than traditional, 
linear programming affords. It also adds a new consideration for 
marketers as they assess of their marketing spend.

Streaming channels are not alone in attracting increased 
marketing spend from marketers. Brands are increasing 
their spending across all digital channels to keep pace with 
audiences—even amid economic uncertainty. With this as a 
backdrop, the survey supporting this year’s annual marketing 
report desired to better understand which channels marketers 
are focused on, how effective they believe each channel is 
and how confident they are in assessing the returns of their 
investment across all of the channels they invest in.

The findings of our survey illustrate that brands are adjusting 
their marketing strategies to meet audiences where they 
are, with 84% of global marketers saying they now include 
streaming channels in their media plans. They also understand 
the importance of knowing who is engaging with the devices 
and channels that carry their advertising, as 71%, on average, 
acknowledge the importance of comparable measurement 
across channels. The downside within the findings, however, 
is that marketers express relatively low confidence in channel 
effectiveness and their ability to measure ROI across channels.

1 A smart TV is an internet-enabled television

Copyright © 2023 The Nielsen Company (US), LLC. Confidential and proprietary. Do not distribute.

4

Key survey findings

1

Economic headwinds aside, 
marketers expect their ad 
budgets to grow

More than two-thirds of marketers (69%) globally 
said the economic conditions had an extreme 
or significant impact on planning for 2023. 
Nevertheless, 64% expect their annual budgets  
to increase this year.

64%

3

Confidence in measuring ROI is 
low across digital channels

54%

Marketers’ confidence in being able to measure 
the returns of their spending is relatively low 
at the channel level. On average, marketer 
confidence in ROI measurement across digital 
channels is 54%, which leaves them without 
insight into the complete return of their spending.

2

Streaming is the future, but it has 
yet to prove its value to marketers

The growth of streaming illustrates the future of how 
audiences will engage with TV. Global marketers 
see the opportunity, as 84% say they now include 
streaming in their media planning. Less than half, 
however, view this spending as effective.

84%

4

The use of multiple  
measurement tools hinders 
confidence in a single view of 
audience performance

Given the historically different methodologies for 
linear and digital measurement, the widespread 
use of multiple measurement solutions is a factor in 
marketers’ stated confidence in arriving at consistent, 
person-level measurement across devices and 
platforms. On average, 62% of marketers globally use 
multiple measurement solutions to arrive at cross-
media measurement, with 14% leveraging four to five.

62%

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6

Industry insights

Digital spend edges out other investments  
amid economic headwinds

Several of the industry’s leading media investment companies2 
are forecasting mid-single-digit ad spend growth this year, 
compared with double-digit growth last year, with much of 
that growth attributed to CTV3 and streaming. Similarly, the 
Interactive Advertising Bureau (IAB) expects increased ad  
spend across every digital channel and declines in spending 
across traditional channels like TV and radio4.

Heading into 2023, global marketers were prepared for 
uncertainty, with 69% of the marketers surveyed for this 
report saying that the economic conditions had an extreme 
or significant impact on their planning for the year. That 
uncertainty notwithstanding, the majority (64%) still expect their 
ad budgets to increase in the year ahead, with 13% expecting 
increases of 50% or more.

“

Despite economic uncertainty,  
64% of marketers expect their ad budgets  
to increase in the year ahead

“

2 GroupM forecasts 5.9% ad spend growth; Zenith forecasts 4.5% ad spend growth; Magna forecasts 5% ad  spend growth. 
3 Connected TV (CTV) refers to any television that is connected to the internet. The most common use case is to stream video content. 
4 AB 2023 Outlook Survey, November 2022

Copyright © 2023 The Nielsen Company (US), LLC. Confidential and proprietary. Do not distribute.

8

Anticipated budget changes of 50% or more throughout the year

Source: Annual Marketing Report surveys

Copyright © 2023 The Nielsen Company (US), LLC. Confidential and proprietary. Do not distribute.

9

The anticipated spending aligns with global trends we’ve been tracking via Nielsen Ad Intel over the past few years:

In the U.S., digital video ad spend through the first three 
quarters of 2022 ($14.6 billion) had already surpassed 
the total digital video ad spend in 2021 ($14.5 billion). 
That represents a 171% increase from the $5.4 billion 
spent in 2020.

Across Puerto Rico, Mexico and Brazil, digital ad spend 
increased 228% between to 2021 and 2022, with total 
spend in these markets reaching $24.5 billion last year. 
Of the total, 58%, or $14.2 billion, was allocated to  
digital video.

In France, Denmark and the U.K., internet-based video 
spend increased from $2.3 billion in the first three 
quarters of 2020 to $4.2 billion in 2022.

*The data reported is derived from the increased coverage of our Ad Intel measurement, which shows greater visibility of actual spending on digital vehicles. (1) Digital activity reporting in Brazil starts in January 2022. (2) PPP and social activity reporting in Puerto Rico starts in May 2022.

Copyright © 2023 The Nielsen Company (US), LLC. Confidential and proprietary. Do not distribute.

10

Global ad budgets are leaning into CTV

The increased spend across digital video, including CTV, reflects 
audiences’ shift to streaming. In the U.S., for example, streaming usage 
is staggering: Americans watched more than 19 million years’ worth 
of streaming content in 20225. In Mexico, streaming had grown to 
account for 15.2% of total TV usage as of December 20226. In Thailand, 
streaming content reaches more than 50% of the TV audience, with 
the average viewer spending just under one hour per day streaming 
content7. In Australia, 70% of people 14 and older say they use the 
internet to stream video, with the average viewer streaming 2.7 hours 
each day8.

As a result, advertisers and agencies are putting their money where 
the audience is, which illuminates a critical measurement need.

What’s at stake? Billions.

Marketing and advertising agency Zenith forecasts that global online 
video ad spending will grow at a compound annual growth rate (CAGR) 
of 4.8% through 2025 to account for 30% of the overall ad market. At a 
more granular level, the company expects advertising on subscription 
video on demand (SVOD) services to grow at a CAGR of 27.9% to reach 
$13.1 billion by 2025.

Well aware of the transition to streaming, global marketers are 
adjusting their media spend accordingly: Globally, on average, 32% 
report allocating 40%-59% of their budgets to CTV, and nearly  
one-fifth (19%) report shifting 60%-79%.

“

On average, 45% of ad budgets  
are shifting to CTV globally

“

5 Nielsen Streaming Content Ratings and Nielsen National TV panel      6 The Gauge Mexico      7 Thailand Cross-Platform Ratings      8 Australia Consumer and Media View, Q4 2022

Copyright © 2023 The Nielsen Company (US), LLC. Confidential and proprietary. Do not distribute.

11

How much of your ad budget is shifting to CTV?

6%

11%

6%

12%

4%

12%

5%

14%

17%

34%

27%

18%

33%

19%

22%

27%

25%

25%

33%

30%

APAC

EMEA

North America

Latin America

Less than 20%

20% - 39%

40% - 59%

60% - 79%

80% or more

Note: The data may not sum to 100% because the chart does not display data for ‘not applicable’, ‘prefer not to say’ and ‘don’t know’.

Copyright © 2023 The Nielsen Company (US), LLC. Confidential and proprietary. Do not distribute.

12

Chapter IV- 2

Perceived effectiveness of digital spending by 
channel

Perceived effectiveness of digital spending by channel

Extre m ely 
    effective

    effective
V ery 

M o d erately 
    effective

    effective
Slig htly 

N ot at all 
    effective

Email

Search

Social Media

Native Advertising

19%

50%

31%

27%

16%

21%

5%

22%

57%

35%

26%

12%

16%

4%

28%

62%

35%

22%

11%

15%

4%

18%

48%

30%

30%

15%

19%

4%

Display: Online/ Mobile

21%

57%

36%

27%

11%

15%

4%

Video: Online/ Mobile

25%

58%

33%

24%

12%

16%

4%

OTT-TV/
Connected – TV

Streaming Audio

Podcasts

19%

49%

30%

29%

14%

18%

4%

17%

44%

28%

30%

17%

22%

4%

17%

45%

28%

27%

17%

23%

6%

NET: Extremely/
very effective

NET: Not effective

Note: The data may not sum to 100% because the chart does not display data for 'not applicable', ‘prefer not to say’ and ‘don’t know’.

The downside to the increased CTV spending is that marketers 
don’t yet view CTV spending as effective as they view their 
investments in many other digital channels.

Copyright © 2023 The Nielsen Company (US), LLC. Confidential and proprietary. Do not distribute.

13

Chapter IV- 3

Smart TV data is not representative of the U.S. 
Smart TV data is not representative of audiences 

Distribution of household by size, October 2022
Distribution of U.S. household by size, October 2022

Total US
Total U.S.

Smart TV (Internet enabled TV‘s)
Smart TV (Internet enabled TVs)

Difference

Difference

1%

7%

6%

2%

27%

20%

35%

34%

15%

17%

23%

29%

Household size

Household size

Household size

Household size

1

2

3

4+

Smart TV = Internet enabled TV's  |  HHLD = Household
Source: Nielsen TV Panel Distribution of scaled install penetrations Sept. 26-Oct. 30, 2022

Smart TV = Internet-enabled TV’s  |  HHLD = Household  
Source: Nielsen TV Panel Distribution of scaled install penetrations Sept. 26-Oct. 30, 2022

Smart TVs introduce a new set of data to the cross-media puzzle, and some companies 
are leveraging it for measurement purposes. The rise of streaming is among the most 
exciting stories in the media industry, and the automatic content recognition (ACR) 
data from smart TVs adds to the excitement. But it’s also what makes measurement 
so complex. By itself, ACR data only tells us what’s on the screen. That’s where panels 
come in. They provide person-level behavior, which is critical in understanding the 
audience. For example, a Nielsen study in the U.S. last fall found notable audience 
misrepresentation when smart TV data was used by itself for measurement.

“

Globally, experts agree both  
panels and big data are required  
for future measurement

“

Importantly, the World Federation of Advertisers, the Association of National Advertisers 
and the comparable organizations in over 30 other nations believe the future of audience 
measurement should include a combination of quality panels and big data.

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14

Confidence in holistic ROI measurement is low

While marketers see the benefit of digital channels and the ballooning streaming space, many are unsure how to make heads or tails of their cross-media investments. Measurable returns will always provide 
marketers with the guidance they need to make tactical media investment decisions, but cross-media ROI measurement challenges have more than half of global marketers (52% on average) focused only 
on reach and frequency metrics.

Chapter V- 1

Which best describes your cross-media 
measurement approach?

Which best describes your cross-media 
measurement approach?

Which best describes your cross-media measurement approach?

Global Average

APAC

Which best describes your cross-media 
measurement approach?

EMEA

Global average
We are solely focused on reach/frequency

APAC
We are solely focused on reach/frequency

EMEA
We are solely focused on reach/frequency

52%

48%

48%

54%

52%

46%

Which best describes your cross-media 
measurement approach?

We are focused on both reach/frequency and ROI

Which best describes your cross-media 
measurement approach?

We are focused on both reach/frequency and ROI

We are focused on both reach/frequency and ROI

North America

LATAM

North America

Source: 2022 and 2023 Nielsen Annual Marketing Report surveys

Latin America

Source: 2022 and 2023 Nielsen Annual Marketing Report surveys

We are solely focused on reach/frequency

We are solely focused on reach/frequency

Source: 2022 and 2023 Nielsen Annual Marketing Report surveys

58%

49%

42%

51%

We are solely focused  
on reach/frequency

We are focused on both  
reach/frequency and ROI

We are focused on both reach/frequency and ROI

We are focused on both reach/frequency and ROI

The reach and frequency focus could be due to under-utilized 
marketing technology (martech). For example, Gartner’s 2022 
Marketing Technology Survey Insights found that marketers 
aren’t using their tools as effectively as they could be: Only  
42% of survey respondents said they use the full breadth of 
their martech capabilities, down from 58% back in 2020.

Through the lens of reach and frequency, however, marketers 
do have the ability to boost their ROI—simply by reaching  
more of the right audience. On-target audience metrics are a 
key indicator of in-flight campaign performance, and they can 
have a notable impact on campaign ROI.

Practically speaking, marketers without dependable 
measurement data won’t be able to make fully informed 
media mix decisions. That could limit their ability  
to plan for their primary business objective for the year: 
customer acquisition.

Source: 2022 and 2023 Nielsen Annual Marketing Report surveys

Source: 2022 and 2023 Nielsen Annual Marketing Report surveys

Copyright © 2023 The Nielsen Company (US), LLC. Confidential and proprietary. Do not distribute.

15

Confidence in ROI measurement by channel

ely 
n t
e

m
E xtr e
n fid
c o

n t

e

V

er y
c o

n fid

M

d
o
c o

e r a t ely
n fid

n t

e

n t

h tly 
n fid

e

Slig
c o

N

n t

o t a t all 
n fid

e

c o

The reduced use of martech capabilities could also explain the 
gap between marketers’ stated belief in their martech’s ability to 
measure aggregate ROI (69%) and their reported ROI confidence 
at the individual channel level, which is much lower.

Across individual digital channels, confidence in ROI 
measurement is 61% or less, with confidence in podcast and CTV 
measurement ROI at 49% and 50%, respectively. With respect to 
understanding complete consumer journeys (full-funnel) across 
all media, ROI measurement confidence is 53%.

Email

Search

Social Media

Native Advertising

Display: Online/ Mobile

Video: Online/ Mobile

Streaming Audio

Podcasts

20%

53%

34%

28%

13%

17%

4%

22%

59%

37%

27%

10%

14%

4%

29%

61%

32%

23%

11%

15%

3%

20%

50%

30%

29%

15%

19%

4%

23%

57%

35%

27%

11%

15%

4%

23%

56%

33%

28%

11%

15%

4%

19%

50%

31%

30%

13%

18%

5%

18%

50%

31%

27%

15%

21%

5%

19%

49%

30%

26%

16%

21%

5%

Note: The data will not sum to 100% because the chart only displays aggregated responses denoting high or low confidence.

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16

 
Increasing complexity inhibits 
measurement confidence

Given the increasing complexity of the media landscape, several 
factors, in addition to the diminishing use of martech, could be inhibiting 
marketers’ confidence in ROI measurement:

Misaligned campaign effectiveness metrics

Many marketers don’t equate campaign success with  
on-target reach

Somewhat surprisingly, global marketers don’t always equate understanding cross-platform reach 
with measuring a campaign’s effectiveness in reaching a target audience. Globally, on average, 60% 
of marketers believe understanding cross-platform reach is important in measuring whether their 
campaigns reach their intended audience. In Asia-Pacific, the percentage is lower at 53%.

Stated importance of understanding cross-platform reach in measuring campaign 
success of reaching target audience

Incomplete audience data

A reliance on channel-specific measurement tools

Extremely 
important

Reduced investment in marketing technology

1

2

3

4

5

6

7

8

9

Not at all 
important

10

Glo b al averag e

A P A C

E M E A

N orth A m erica

Latin A m erica

23%

23%

19%

16%

35%

19%

17%

22%

24%

14%

17%

13%

20%

23%

13%

60%

53%

60%

63%

63%

8%

6%

4%

8%

10%

4%

7%

8%

5%

13%

8%

5%

9%

7%

5%

7%

8%

3%

10%

4%

3%

6%

11%

2%

5%

4%

3%

5%

11%

6%

2%

15%

14%

12%

19%

14%

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17

Effective reach depends on quality audience data

Approaches used to achieve cross-media measurement

The job of any marketer is to identify the right audience and then engage with them. 
In an increasingly fragmented digital landscape, quality audience data is at a premium, 
especially as third-party cookies and mobile advertising IDs (MAIDs) become obsolete. 
And to that end, only 23% of marketers strongly agree that they have the quality 
audience data they need to get the most out of their media budgets. In Latin America, the 
percentage is higher, at 26%.

13%

19%

Net: 
Multiple 
solutions

APAC

21%

17%

16%

15%

Net: 
Multiple 
solutions

EMEA

13%

20%

26%

32%

Channel-specific tools provide channel-specific 
measurement

The historically different methodologies for linear and digital measurement highlight the 
complexity in arriving at comparable, deduplicated metrics. Traditionally, marketers have 
used products that tell them whether someone viewed or clicked a digital ad or content—
either online or in an email. This point-in-time approach is much different from traditional 
television measurement, which is more continuous in nature.

On average, 62% of marketers globally use multiple measurement solutions to arrive at 
cross-media measurement, with 14% leveraging four to five. Comparatively, just 34% 
report using one platform for cross-measurement needs: 19% have their own proprietary 
solution, and 15% use a third-party tool. 

14%

19%

Net: 
Multiple 
solutions

Global 
average

19%

15%

29%

Net: 
Multiple 
solutions

12%

20%

18%

North 
America

18%

Net: 
Multiple 
solutions

17%

20%

Latin 
America

12%

17%

29%

31%

One proprietary measurement solution that measures key channels/platforms

One third-party measurement platform to measure all channels/platforms

A combination of proprietary and third-party measurement technology/solutions for each channel/platform

Two-to-three third-party measurement technology/solutions to measure each channel/platform

Four-to-five third-party measurement technology/solutions to measure each channel/platform

Other

Note: The data may not sum to 100% because the charts do not display data for ‘other’ and ‘N/A’.

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18

Investment in martech is declining

Planned channel investments transcend perceived 
effectiveness

In addition to using less of their martech in recent years, marketers report plans to pull back on 
additional investment in the year ahead. Despite expected increased ad budgets, 24% of global 
marketers, on average, plan to reduce their investment in martech to some degree, with 12% 
planning cuts of 150% or more.

Chapter V- 6

Globally, we see the biggest planned reductions in Asia-Pacific, with 33% of marketers in this region 
planning to reduce their investment by 250% or more. Conversely, marketers in North America, plan 
the largest increases in martech investment, with 60% reporting plans to increase their investment 
by 100%-200%.

Planned investment in marketing technology 
over the next 12 months

Planned investment in marketing technology over the next 12 months

56%

42%

60%

52%

52%

Net increase

Net decrease

Global 
average

24%

APAC

EMEA

North 
America

Latin 
America

14%

21%

24%

33%

Given the low confidence in channel-level and full-funnel ROI measurement, it’s not 
surprising that marketers report only mild degrees of effectiveness across channels, with 
perceived effectiveness lowest for podcasts, CTV, streaming audio and native advertising. 
Incidentally, these four channels are also among those that marketers plan to invest most in 
over the coming year (planned increases range from 38%-42%).

As audiences increase their time with digital devices, emerging channels and streaming 
content, advertisers and agencies will need measurement that provides comparable 
data across devices and platforms. That will improve the confidence they have in their 
marketing investments. The universal applicability of impressions, which measure what 
content audiences are shown—continuously—provide marketers with comprehensive and 
representative comparability across linear and digital platforms.

The importance of comparable, person-level measurement isn’t lost on global marketers, 
as, on average, 71% say comparability is extremely or very important in their cross-
media measurement. Acknowledged importance aside, however, many marketers remain 
challenged to arrive at comparable, deduplicated measurement, especially those outside of 
North America.

Source: 2022 and 2023 Nielsen Annual Marketing Report surveys

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19

Confidence in current solutions delivering comparable, deduplicated cross-media measurement

3%

27%

3%

30%

9%

6%

39%

39%

APAC

EMEA

3%

16%

1%

26%

6%

8%

25%

35%

North America

Latin America

Somewhat confident

Slightly confident

Not confident

Net: Lacking/no confidence

The importance of technology aside, it’s worth noting that  
studies have found that marketing teams are facing challenges 
outside economic uncertainty, reduced budgets and shifting 
business priorities.

For example, Gartner’s State of Marketing Budget and Strategy 
2022 survey found that the majority of CMOs (61%) reported that 
their teams lack the capabilities to deliver on their strategies. It 
also found that 71% of CMOs know they need to make large-scale 
changes to achieve their long-term visions.

This awareness, combined with the widespread use of multiple 
measurement solutions—which research suggests are under-
utilized—provides brands and agencies with the insight they need 
to prioritize a re-imagined means of measuring for the future.

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20

Our takeaways

Investments today can save money in the long term

Marketers are always being asked to do more with less, and that premise grows in times of 
economic uncertainty. But we know from our research that marketing accounts for 10%-35% 
of a brand’s equity9, highlighting the importance of ongoing brand building. The economic 
uncertainty, however, sharpens the need for efficient, targeted and measured ad spending.

Heading into 2023, most brands were already under-spending—by a median of 50%10—to 
achieve their maximum ROI. So, reducing spending by even more could suppress ROI even 
further. It may also have a negative impact on marketers’ top objective for the year ahead: 
customer acquisition, closely followed by brand awareness.

1

Top marketing objectives for the 2023

Numbers represent responses to this question: Please rank, in order of importance, each of these marketing objectives for your business from most important (1) to least important (7).

9 Nielsen Brand Resonance Report     |     10 Nielsen 2022 ROI Report 

Copyright © 2023 The Nielsen Company (US), LLC. Confidential and proprietary. Do not distribute.

22

Rampant underspending is hampering maximum ROI

Under-spending is even higher in the digital channels where engagement is rising. For example, 
May 2022 data from Nielsen’s Predictive ROI Database showed that 66% of global media plans were 
under-invested for digital video—the area of the media industry that’s garnering the most attention 
from audiences, advertisers and publishers.

Chapter VI- 2

Rampant underspending is hampering maximum ROI

Rampant underspending is hampering maximum ROI

Median ROI growth opportunity from 
 increasing investment to optimal zone

Display

Rampant underspending is hampering maximum ROI
% of plans that are underinvested

Median level of underinvestment 
among plans that are underinvested

Rampant underspending is hampering maximum ROI

Digital video

Digital video

51%

Display

59%

Digital video

Display

Social

Social

44%

TV

TV

TV

53%

66%

60%

43%

31%

52%

62%

58%

41%

Source: Nielsen Predictive ROI Database May 2022

Source: Nielsen Predictive ROI Database May 2022

Source: Nielsen Predictive ROI Database May 2022

Source: Nielsen Predictive ROI Database May 2022

Source: Nielsen Predictive ROI Database May 2022

Copyright © 2023 The Nielsen Company (US), LLC. Confidential and proprietary. Do not distribute.

23

comparable measurement mindset

2 The future is here: embrace a 

Audiences have spoken, and digital video—in all of its forms— 
represents the future of how audiences will engage with content.  
From a measurement point of view, this shift calls for transformative 
change industrywide.

Globally, marketers know how important comparable metrics are in 
understanding the effectiveness of their ad spending. To obtain their 
long-term measurement—and business—objectives, however,  
marketers should consider tools, solutions and metrics that are media-
agnostic. Impressions, for example, measure whether a person sees an 
ad or content are universally applicable. And subminute measurement, 
which produces individual commercial metrics, brings linear TV and 
digital video measurement closer to how digital campaign performance 
has historically been measured.

Globally, 71% of marketers say that comparability in cross-media 
measurement is important, yet cross-media ROI measurement remains 
elusive for many, with CTV ad measurement presenting notable 
challenges. Several of the previously discussed factors related to 
perceived channel effectiveness and measurement confidence could 
be relevant here as well. In addition, 62% of marketers, on average, say 
they find it challenging to know where to use their ad budgets to reach 
specific audiences given the range of media choice. Even more (69%) 
agree that digital media and audience fragmentation amid the rise of 
streaming poses significant challenges to reach their target audiences. 

To make the transformation that marketers want and finally achieve 
comparable cross-media measurement at the individual level, marketers 
should continue to challenge martech providers by investing in solutions 
that are focused on delivering measurement that is media agnostic.

CTV—Connected TV; OTT—Over-the-top.

Difficulty with OTT/CTV advertising measurement

Glo b al averag e

A P A C

N orth A m erica

Latin A m erica

E M E A

Extremely difficult

10%

10%

11%

12%

8%

Somewhat difficult

26%

25%

23%

28%

27%

36%

35%

34%

40%

35%

Neutral

Not so difficult

Not difficult

31%

30%

34%

33%

28%

25%

27%

26%

20%

27%

33%

35%

32%

28%

8%

7%

6%

8%

37%

10%

Copyright © 2023 The Nielsen Company (US), LLC. Confidential and proprietary. Do not distribute.

24

Tracking the relationship between targeted ads and ROI

In this example of campaign ROI for a blinded advertiser, the bubbles represent data for one vendor, for one month, on one campaign. 

The majority of the 

activity is in the middle 

The cluster in the 

lower left represents 

an underdelivered 
audience, generating 
an average ROI of $0.25 
for every $1 spent. 

of the chart, generating 
an average ROI of $1, but 
ROI did trend higher as 
the percentage of ads 
served to a target 
audience increased. 

Tracking the relationship between targeted ads and ROI

Increase your ROI by reaching 
more of your target audience

The cluster in the 

upper right represents 

the impact of delivering 
more ads to the targeted 
audience, which led to 
an increased ROI of 
$2.60 per $1 spent.

R²=0.6559

A
T
M
m
o
r
f

I

O
R

$3.10

$2.60

$2.10

$1.60

$1.10

$0.60

$0.10

3

The days of having to wait for a campaign to end to assess 
its performance are over. Understanding how campaigns are 
performing in near real time should be the way forward on the 
quest for maximum ROI.

We hear this a lot: Reach more of the right audience and 
your ROI will increase. Importantly, there’s more truth to this 
statement than many people might realize.

Last year, Nielsen conducted a study involving 15 brands and  
82 digital campaigns to verify the correlation between target 
reach and campaign ROI. When we combined in-flight target 
measurements from Nielsen Digital Ad Ratings and outcome 
metrics from Nielsen Attribution, we found one clear truth: 
Ads that best reached their intended audience generated 
significantly higher ROI than those that didn’t.

Source: Nielsen Digital Ad Ratings and Nielsen Attribution

40

60

80

100

120

140

160

180

200

220

240

Tracked ads index to target audience

Source: Nielsen Digital Ad Ratings and Nielsen Attribution

In this example of campaign ROI for a blinded advertiser, the bubbles represent data for one vendor, for one month, on one campaign.

The cluster in the  lower left represents  an 
underdelivered audience, generating  an 
average ROI of $0.25 for every $1 spent.

The majority of the activity is in the 
middle of the chart, generating an 
average ROI of $1, but ROI did trend 
higher as the percentage of ads served 
to a target audience increased. 

The cluster in the upper right represents 
the impact of delivering more ads to 
the targeted audience, which led to an 
increased ROI of $2.60 per $1 spent.

Copyright © 2023 The Nielsen Company (US), LLC. Confidential and proprietary. Do not distribute.

25

 
 
Targeted reach learnings

Increased campaign reach raises 
costs and does not guarantee 
higher campaign ROI

Increased targeted reach 
will improve campaign ROI

Advertisers can use reach 
analysis to better understand 
which audiences to target

Focusing on the most valuable 
audiences improves efficiency and 
drives higher ROI

Audience data has always been critical in media planning, but digital connectivity and 
smart TV proliferation amplify the complexity associated with identifying audiences—and 
measuring their engagement—within a growing wealth of data. Complexity notwithstanding, 
media measurement will always depend on having an accurate, person-level view into the 
audiences engaging with media—no matter how fragmented the landscape becomes.

Copyright © 2023 The Nielsen Company (US), LLC. Confidential and proprietary. Do not distribute.

26

About this report

About Nielsen

Nielsen shapes the world’s media and content as a global leader in audience 
measurement, data and analytics. Through our understanding of people and their 
behaviors across all channels and platforms, we empower our clients with independent 
and actionable intelligence so they can connect and engage with their audiences—
now and into the future. Nielsen operates around the world in more than 55 countries. 
Learn more at www.nielsen.com and connect with us on social media (Twitter, LinkedIn, 
Facebook and Instagram).

This is the fifth Annual Marketing Report Nielsen has produced. It’s also the second to be 
global. The report leverages survey responses of marketers across a variety of industries 
whose focus pertains to media, technology and measurement strategies. For this report,  
we engaged 1,524 global marketing professionals who completed an online survey between 
Dec. 7, 2022, and Dec. 21, 2022.

In terms of seniority level, we engaged global brand marketers at or above the 
manager level. These managers work with annual marketing budgets of $1 million 
or more across the auto, financial services, FMCG, technology, health care, 
pharmaceuticals, travel, tourism and retail industries.

Here are the corresponding sample distributions by region. Please keep these  
sample sizes in mind when reading and interpreting the charts in this report.

Respondents by region

• APAC: 386 respondents
• EMEA: 374 respondents
• North America: 402 respondents
• Latin America: 362 respondents 

TOTAL: 1,524 

Copyright © 2023 The Nielsen Company (US), LLC. Confidential and proprietary. Do not distribute.

27