Q3 CTV Ad Spend Grew 39% YOY
by Frankie Karrer
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With the unusual circumstances of the last year leading to a boom in the number of Connected TV advertising platforms and time spent consuming OTT/CTV content, it’s even more important for marketers to track the behavior of streamers. A new survey from Adweek-Morning Consult explores how the relationships Americans have with their streaming services changed since the pandemic hit. According to Adweek, 70% of respondents responded that they have at least one subscription to a streaming service. And when asked whether they increased or reduced the number of streaming services they subscribed to during the pandemic, 39% of those surveyed said that they added new services (and only 6% said they cut back).
The survey also confirmed what many marketers advertising through CTV already know – consumers prefer free ad-supported content over the more expensive ad-free versions. When asked whether they’d rather pay more to avoid ads, 49% of respondents said that they opted for lower cost ad-supported content, and only 22% said they were willing to pay the extra cost for ad-free content. Ultimately, as viewers continue to add new subscriptions and consume more free services that support streaming advertising content, marketers who want to make a big impact with their advertising should be looking to reach potential customers on Connected TV.
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