Q3 CTV Ad Spend Grew 39% YOY
by Frankie Karrer
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The scales are finally tipping towards a CTV-first world. According to a new report from eMarketer, the number of cord-cutters and cord-nevers will reach 138.1 million by 2024, overtaking the number of pay TV viewers for the first time. Pay TV viewership ultimately peaked in 2013, and ever since has been consistently dropping—by 2024, pay TV viewership will have fallen to 129.3 million in the US.
Time spent watching Connected TV has also been on the rise. eMarketer found that daily time with connected devices (which includes devices like game consoles, CTV platforms, and Blu-ray players) will reach one hour and 47 minutes this year, and rise to almost two hours by 2024. The rise in consumer use has also attracted advertiser interest, and the gap between linear and CTV ad spend is closing. This year, eMarketer estimates that US advertisers will spend around $18.89 billion on CTV—a rise of 33.1% over 2021.
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