Connected TV

Global CTV Ad Revenue Will Reach $25.9 Billion in 2023

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Global CTV Ad Revenue Will Reach $25.9 Billion in 2023

3 Min Read

Surprising exactly no one, Connected TV seems likely to continue its meteoric rise this year—and this time the forecast is global. GroupM’s Mid-Year Forecast predicts that global CTV ad spend will reach a substantial $25.9 billion in 2023, an increase of 13.2% over last year. Linear TV, on the other hand, can expect to see a decline of 1.2% in global spend—ouch. According to eMarketer, this aligns with the increasing trend of consumers gravitating towards streaming platforms, which has prompted advertisers to recognize CTV as an opportune space for engaging with a receptive audience. 

eMarketer attributes this growth in CTV advertising to a number of factors. First, they point out that studies have shown CTV ads often yield higher ad recall and engagement rates, in part because they can’t be skipped. Connected TV also lets advertisers use precise audience segmentation—leveraging interests, demographics, and viewing habits to more effectively reach their target audiences. The real-time data-driven insights from CTV also empowers advertisers to analyze viewership trends, audience behavior, and ad performance, which can make for smarter decision-making and better campaign optimization. Finally, CTV ads are considered premium ad formats—they’re both professionally produced and fully viewable, as opposed to some other digital platforms, where ads may be served alongside content that’s either inappropriate or just plain distracting.

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