What TV and Media Execs Really Think of CTV Advertising
by Stephen Graveman
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Connected TV is continuing its streak as one of the fastest growing ad channels. New research from Business Insider reveals that 213.7 million people are expected to use the internet through a Connected TV device monthly in 2021 (an increase over their original pre-pandemic forecast of 208.1 million). This growth in consumer use is in part attributed to the increase in cord-cutting behavior over the last year – Business Insider has even revised their estimated 2021 figure for traditional TV households down by 2.8 million.
As cord-cutting continues accelerating over the rest of the year, and more inventory becomes available through streaming than ever before, advertisers are following their audiences to Connected TV. Research from the Interactive Advertising Bureau found that among U.S. marketers with digital video in their media budgets, 60% expressed they would be moving ad dollars from linear TV to CTV over the next year. Ultimately, with more marketers recognizing the power and reach of advertising through Connected TV, it’s no surprise that investments in this channel are expected to grow to $13.41 billion this year.
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