[eMarketer] Connected TV has become a frontrunner in digital advertising
Investment in Connected TV, CTV, in US rose by 40.6 per cent year on year in 2020 to reach over 9 billion with this growth expected to be sustained this year to hit $13.41 billion, before growing more than double by 2025 according to a forecast by eMarketer.
This growth is attributed in part to the shift in consumption during COVID-19 pandemic which as seen CTV position itself as one of the fastest growing channels. With the availability of more programmatic CTV portfolio, linear TV has since last year remained unattractive to advertisers.
This, combined with the consumers’ move to OTT video majorly through streaming of videos via CTV devices, has seen advertisers shift their attention to the media channel as they train their eyes on customers’ consumption trends.
According to research by the Interactive Advertising Bureau (IAB), 60 per cent of US marketers with digital video in their media budgets said that they were move ad dollars from linear TV to OTT and CTV this year.