45% of Digital Political Ad Spend in 2024 Will Go to CTV
by Frankie Karrer
2 Min Read
Your destination for the latest CTV stats, trends, and insights.
2 Min Read
Though we may expect some slowing growth in the future as Connected TV audiences approach saturation, according to eMarketer, CTV viewership grew to two-thirds (66.9%) of the US population last November. And with that rise in viewership, advertisers have similarly been growing their investment in the channel. US advertisers are expected to spend $26.92 billion on CTV ads this year, which will bring Connected TV to 10.2% of total video ad spend.
One way that brands are increasing the value of their CTV investment is turning to “enhanced” ad formats. According to a new study from LG Ad Solutions, almost half (49%) of consumers are more likely to engage with an ad if it is an enhanced format, such as an ad that uses QR codes or location data that recommends nearby stores. In fact, 94% of those surveyed said they feel the same or more favorable about brands that use QR codes or provided local store locations. Ultimately, as this channel continues to make waves in the industry, brands will need to start finding engaging new ways to catch the attention of their audiences.
Audiences Are Spending More Time Watching Just About Everything but Traditional TV
Surprising absolutely nobody, Americans are expected to watch more digital video—YouTube, TikTok, that terrible rom-com on Hulu—than linear television this year.
How To Apply a Big Game Sized Creative Strategy to Your Evergreen Campaigns
This year, a 30-second ad spot during the Big Game cost upwards of $7 million, which overtakes last year’s $6.5 million price tag. What can advertisers who don’t necessarily have a SB sized budget, learn from the creative approach of those who do?
How Connected TV Advertising Can Avoid the Fate of Display
As CTV advertising continues to expand, some have wondered if it could head down a similar path as display advertising. Fortunately, with careful planning, we can ensure that this new wave of growth does not suffer from the same problems as its predecessor.
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