Connected TV Statistics: Viewership & Growth Trends (2024)

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Connected TV (CTV) continues to solidify its place as both a mainstream entertainment platform and a powerful marketing tool. The best way to fully understand the impact and reach of the medium is to brush up on current Connected TV growth and viewership data.

Check out the latest Connected TV statistics below and learn more about the impacts of this ever-expanding marketing channel.

Connected TV Growth

The Connected TV explosion is in full swing. By the end of 2024, U.S. CTV user penetration is set to exceed 80% among consumers ages 25 to 54. Clearly, the medium as a whole is no slouch in offering brands massive audiences to target.

Users aren’t gravitating toward just one channel (or service, in this case) either. According to the Motley Fool, the average U.S. household subscribes to 4.1 streaming services. And in total, 83% of American households have embraced video streaming.

Connected TV Demographics

Familiarizing yourself with CTV demographics will help you determine whether your ideal consumer base is active with it. The question becomes a matter of knowing who watches CTV. And though short, the easy answer is “everyone.”

CTV consumption has been trending upward across several different generations of viewers, with Gen Z and millennials leading the charge. According to Statista, the number of U.S. Gen Z CTV users will rise from 49.6 million in 2022 to over 56 million by 2025, a remarkable increase of more than 6.5 million in just three years.

Similarly, as of 2022, about 60.5 million millennials were watching at least one CTV channel. By 2025, that figure is expected to increase to 62.6 million, a change of 2.1 million.

Connected TV Viewership Trends

If it feels like everyone watches CTV these days, that’s because things are certainly trending in that direction. Two-thirds of Americans currently make use of some form of CTV, and a staggering 111 million U.S. households use CTV at least once a month. In fact, more people access their entertainment options these days via CTV than through traditional broadcasting.

Viewers are also gravitating toward the idea of bundles that combine either multiple streaming services or a premier CTV channel and high-speed internet together. In fact, 71% of survey respondents say they would be interested in an entertainment bundle that combined high-speed home internet with a streaming platform.

Connected TV Advertising Statistics

According to EMARKETER, CTV is the fastest-growing ad channel in the United States. It’s projected to grow by 22.4% throughout 2024, reaching a total valuation of $30.1 billion.

Marketers have since caught on to the value of CTV, with 27% planning to spend more on streaming ad content this year. Roughly 30% of marketers plan to spend at least one-fifth of their upfront budgets on CTV advertising. 40% of these marketers are rerouting funds from their digital TV budgets, and another 40% are diverting resources from non-video digital ads to support more CTV advertising.

In 2023, marketers spent $24.6 billion on CTV ads. By 2027, experts predict that CTV ad spend will reach $42.4 billion.

Take Advantage of the Growth With MNTN Performance TV

Those new to CTV ads are flocking to MNTN Performance TV, given its robust tools, user-friendliness, and performance optimization capabilities. 90% of MNTN customers are first-time TV advertisers, a statistic that reveals that CTV and MNTN have opened up television marketing to a wider range of brands.

MNTN Research recently conducted a year-over-year comparison of Q1 2023 and Q1 2024. We looked at key metrics, including average return on ad spend (ROAS), conversions, and visit rate. Our analysis found that ROAS increased by 44.9%, conversions jumped up by 32.1%, and visit rates rose by 21%.

As CTV viewership continues to rise, ad spending is increasing, and users are active across multiple streaming channels. All of that information speaks to the value of a dynamic CTV marketing solution like MNTN Performance TV.

Start tracking what matters, reaching the right audiences, and driving real results with MNTN today. Request a demo to get started.

CTV Growth Statistics and Viewership Trends: Final Thoughts

Each of the Connected TV viewership trends detailed above gives credence to the fact that more people are streaming their entertainment content than ever before. It’s more than likely a matter of time before your customers make the jump to CTV if they haven’t already done so.

To stay relevant and maximize the reach of your marketing efforts, you need to embrace the CTV revolution. And MNTN Performance TV can help you do just that. Demo MNTN today and let our dynamic platform propel you toward your growth goals.