Despite small and medium-sized businesses (SMBs) making up two-thirds of the U.S. economy, they currently account for only 5% of TV ad spending. By contrast, Fortune 500 companies, which represent a third of the U.S. GDP, dominate 95% of TV advertising. Vibe’s new AI-powered product suite is designed to make CTV advertising accessible and effective for SMBs.
The tools in Vibe’s suite are:
- Vibe IQ2: Uses AI to analyze data and optimize ad campaigns for higher conversion rates.
- Vibe AI Assistant: Provides automatic media planning and campaign creation tailored to business goals.
- Vibe Studio: Allows SMBs to produce high-quality, CTV-ready ads quickly and affordably.
- Vibe Connect: Links SMBs with premium streaming spaces and gives publishers control over ad inventory.
Vibe reports that 80% of its 3,000 advertisers are first-time TV advertisers. The company recently raised $22.5 million in Series A funding to expand its operations. The company also reports 4x YoY revenue growth and a planned 50% increase in workforce for 2024.
There are a lot of CTV ad platforms to choose from but it is true that SMBs remain an untapped market. The cost of traditional web advertising is going up and companies are not exactly spoilt for choice with Google and Meta dominating almost all of the available options. So, CTV advertising has room to grow and it will as it becomes easier to onboard any and all companies.
