Connected TV

CTV Ad Spend Has Increased by Nearly 400% Since 2019

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CTV Ad Spend Has Increased by Nearly 400% Since 2019

2 Min Read

All of the key Connected TV metrics—including time spent and user numbers—are on the rise, according to a new article from Insider Intelligence. And advertisers have taken notice: the piece reports that CTV ad spend has skyrocketed by nearly 400% since 2019, fueled by a surge in streaming during pandemic lockdowns. Future ad spend projections are even more astounding, with the CTV ad market expected to soar nearly $13 billion higher in 2024 than it was in early 2020.

It seems that this increased advertiser interest in streaming may help fill the gaps in dollars pulled from traditional TV advertising. While Linear TV ad spend in the US is predicted to decline, CTV advertising is set to undergo substantial growth, from $25.09 billion in 2023 to a forecasted $40.90 billion in 2027. Many advertisers are strategically reallocating their budgets, with 37% diverting from Linear TV and 36% from digital/mobile video—both to CTV. Ultimately, advertisers will need to adapt their strategies to embrace this shifting landscape—and consider combining both Linear TV and CTV in the meantime to reach all audiences effectively.

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