Global Streaming Revenues Will Increase by 14% in 2023
by Frankie Karrer
3 Min Read
3 Min Read
Political ad spending is in full swing in anticipation of the November midterms. In fact, AdImpact reports that $3.6 billion has already been spent on political and issue ads so far this year. And it looks like streaming has been contributing heavily to that dollar number—of the nearly $700 million spent on digital so far in 2022, 44% has been allocated to Connected TV.
There are a number of reasons why political advertisers are looking to Connected TV this year in order to reach prospective voters. Unlike linear TV, streaming platforms do not need to comply with the 1934 Communications Act, which requires broadcasters to provide political advertisers with equal time. Many political advertisers are also excited about the superior targeting abilities of this channel over linear. According to Al Behmoiras, senior manager of strategic relationships at Comcast’s FreeWheel, CTV gives political advertisers “the ability to target swing voters, Republicans, Democrats. There is lots of targeting available on CTV that’s difficult to target against on linear, and so by shifting dollars to streaming, the agencies can get much more granular in who they’re able to target.” Ultimately, he reports that between 20-30% of linear ad budgets have been already shifted from linear to Connected TV this year.
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