Connected TV 5 Min Read
US OTT Ad Spend Expected to Top $5 Billion by 2020
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Advertisers Are Spending More on CTV
Connected TV ad spend is steadily increasing year over year, with 2018’s spend expected to double by 2020, according to new research by Magna. “The penetration and consumption of OTT homes in the US grew faster than we thought,” said Vincent Letang, EVP of market intelligence at Magna. “There’s an increasing number of people accessing OTT and more content to be consumed.” This surge in adoption is being led by the growing number of streaming services available which provide premium, ad-supported content for large and growing audiences.
Ad money will always follow viewers, and we’re seeing that with Connected TV advertising. That’s not the full story, however. It’s CTV’s ability to reach those viewers in a precise way, through audience targeting capabilities that are in line with other digital ad channels, that gives it a special appeal to advertisers. Coupled with its ability to deliver metrics that track the success of campaigns in a very real way, CTV is increasingly attracting advertisers looking for better ways to measure their TV ad performance.
Connected TV in the News
Targeted TV Advertising Is Taking Off
The Wall Street Journal
Streaming platforms allow companies to tailor their marketing to a bigger audience and with more precision, and that’s causing advertisers to rethink their budgets and strategies.
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