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Traditional TV Ad Spend is Down, Connected TV Spend is Up | Weekly CTV Roundup
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Traditional TV Ad Spending is Slowing Down as Marketers Look to OTT
Advertisers are not as excited as they once were about traditional television. According to eMarketer, ad spending on traditional TV will slip 0.5% this year, dropping it to just under $70 billion. That represents a year-over-year drop from 33.9% to 31.6% for TV’s share of total US media ad expenditures.
Meanwhile, leading CTV services are seeing their ad revenue soar. Roku’s US ad revenues will surpass $293 million this year, up 93% over the previous year. Hulu’s ad revenues are expected to top $1.12 billion this year as well, signifying an increase of 13%. As traditional TV begins to lose its luster in light of new viewer habits, more advertisers are moving their budgets to CTV now, and for the foreseeable future.
Connected TV in the News
As TV Viewing Habits Change, Local Broadcasters Turn to Live Streaming
Major League Soccer team Real Salt Lake struck a deal with the local NBC affiliate to stream games and other content, marking the first time a pro team has struck a local streaming deal.
Internet-Connected Devices See Big Growth in March
Connected TV device usage is skyrocketing, while traditional television metrics have fallen in key audience demographics, according to new research from Pivotal Research.
54% of TV Buyers Moving to Smart Home Entertainment Devices
Consumers are 54% more likely to purchase a smart home entertainment product in the future, which bodes well for makers of smart TVs.
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