CTV Will See 13.2% Global Growth in 2023

2 Min Read

A new report from Group M has revealed yet another win for Connected TV: the channel is expected to reach 13.2% global growth in 2023, hitting $29.2 billion. And that growth is forecasted to continue, with an expected 9.5% Compound Annual Growth Rate (CAGR) for CTV through 2028. Linear TV, on the other hand, is continuing to decline with an estimated -1.3% CAGR by that point. 

In fact, Connected TV revenue may just surpass linear by 2026, making up more than half of total TV revenue — a feat in part thanks to more streaming platforms jumping on the ad-supported bandwagon this year. However, Connected TV’s growth won’t be enough to offset the losses expected across the TV ad revenue board, and GroupM predicts that overall U.S. TV ad revenue will fall 5.1% to $62.3 billion in 2024. Ultimately, time will tell when CTV will have enough star power as a channel to help total TV advertising recover as viewers continue to cut the cord on their cable subscriptions.

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