Q3 CTV Ad Spend Grew 39% YOY
by Frankie Karrer
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A new report has just revealed that more than half of advertisers using Connected TV are expected to increase their spend through this channel, with an average increase of 22%. The 2022 CTV/OTT Advertiser Survey released by Advertiser Perceptions reveals that 30% of respondents say that these increases will come from an overall increase in their ad budgets, while 66% are shifting their budgets from channels like digital, social, and linear.
There are many reasons why advertisers are looking to up their investment in Connected TV, number one being the fact that 25% of the respondents believe CTV is the most valuable media type—topping linear TV, paid search, and social. In fact, 84% believe that the value of CTV is greater than, or equal to, that of primetime TV. Some advertisers also cited CTV’s ability to achieve brand awareness and performance marketing goals (43%) and target audiences locally in ways that are not possible with linear (70%) as drivers for this expected increase in spend. Ultimately, Connected TV can be a powerful tool for reaching new audiences and driving performance, and it looks like advertisers are taking notice.
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