Connected TV

76% of Agencies Will Increase CTV Ad Spend in 2023

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76% of Agencies Will Increase CTV Ad Spend in 2023

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We are only two weeks away from the new year, making this the perfect time for agencies to nail down their future campaign strategies. And one channel in particular is getting a lot of buzz: Connected TV. In a survey of media agency professionals to learn more about how their strategies and perceptions of CTV are evolving in 2023, Pixability found that agencies overwhelmingly are looking to invest more heavily in CTV platforms. According to the report, 76% of agencies will increase their CTV ad spend in 2023, 20% intend to maintain spend, and only 4% will be decreasing spend on CTV (none of the big 6 agencies included).

As far as where those ad dollars will be coming from, 17% revealed that they will be moving spend from traditional TV budgets. This tracks with other data from the survey, which found that 41% of agencies will be investing less in linear TV next year, and only 14% intend to invest more in this channel. Ultimately, as consumers continue to move away from traditional television, it looks like media agencies are getting the hint and following them to their new home of Connected TV. 

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