Streaming Revenue Will Overtake Pay TV in Q3 of 2024
by Frankie Karrer
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Your destination for the latest CTV stats, trends, and insights.
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With many statewide and municipal elections coming up over the next few weeks, and the 2022 midterms fast approaching, many political advertisers are looking for new ways to make an impact. And this year, advertising on Connected TV has become an essential channel for winning over voters. More people can be found through CTV ads than ever – Americans are watching more streaming content than traditional live TV, and eMarketer revealed that 83% of U.S. households have Connected TV devices. So it comes as no surprise that projections from AdImpact and Cross Screen Media found Connected TV political ad spending is expected to reach $1.5 billion this year, a significant chunk of the $9 billion anticipated in overall political ad spend.
Last election cycle was the first time many campaigns began to experiment with Connected TV. And due to the pandemic-driven boom of the last couple years, more inventory and streaming platforms are available for political advertisers to utilize. The expected increase in ad spend may also in part be due to new consumer data policies from brands like Twitter and Spotify, who have banned political advertising on their platforms. Ultimately, getting the right message in front of the right audiences can make or break a campaign, and it looks like many political advertisers are looking to take advantage of the power of Connected TV to deliver personalized ad experiences to potential voters.
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