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As more and more consumers make the switch to Connected TV, advertisers have been eagerly following them to this channel with their ad dollars. A new report from Standard Media Index found that the total Connected TV advertising spend in Q3 of this year was almost 40% higher than the same period last year.
Specific industry categories saw more growth than others. SMI reports that travel brands were the biggest spenders—upping their CTV ad spend by a whopping 159% over the same time last year. Auto brands and restaurants also reported higher levels of spending on CTV, with rises of 96% and 90%, respectively. And while some industries were still slow to increase their investments in CTV (apparel and accessories brands increased their spend the least, with only a 0.5% rise overall), SMI ultimately found that every category saw at least some increase in CTV ad spend.
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