Navigating the Growing Connected TV Advertising Landscape
by Jaci Schreckengost
3 Min Read
Your destination for the latest CTV stats, trends, and insights.
2 Min Read
According to a recent report from Samba TV, the number of Americans who no longer pay for cable TV has reached 52%. This shift is partly due to broadcasters moving their content off of traditional broadcast TV and onto streaming services. NBCUniversal has been at the forefront of this shift, with much of their content now available exclusively on Peacock. Additionally, direct-to-consumer options have grown in popularity, with networks like Bally Sports, Yes Network, and MSG all launching or planning to launch their own streaming services in the near future.
While younger generations are leading the charge in cord cutting, with 65% of Gen Z and 58% of Millennials no longer paying for cable TV, older generations are following suit. The report found that 57% of Gen X and 43% of Baby Boomers have also bid farewell to their cable subscriptions. And considering age groups across the board are turning to streaming (79% of Americans now stream their TV content), it’s practically certain that the future of television will be on Connected TV.
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Paramount+ added a record 9.9 million subscribers in the fourth quarter of 2022 to climb to nearly 56 million total. Still, the company is expecting to take a hit in its direct-to-consumer business in 2023 as it realigns its content strategy.
And the Award Goes to… Streaming Services?
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The rise of streaming services and the proliferation of smart TVs are leading more people to cut the cord and turn to CTV. This switch leads to many advantages, including the ability to target specific demographics.
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