TV Advertising Statistics & Trends to Watch for in 2024

TV Advertising Statistics & Trends to Watch for in 2024

5 Min Read

If you’re thinking about revamping your television advertising strategy, you’ll need to take the time to brush up on some of the latest TV advertising trends

With that in mind, here are ten key TV advertising stats that you need to be aware of in 2024:

1. Performance TV Makes Advertising More Accessible

90% of MNTN customers are first-time TV advertisers. Connected TV (CTV) and our performance TV marketing ecosystem, in particular, make running streaming TV ads a viable option for brands that would traditionally stick with paid searches and social platforms. 

By making the leap to MNTN, you can create custom campaigns that fit your needs and budget. You’ll be able to target niche audiences and get your content in front of high-quality prospects, as well. 

2. OTT Is Becoming a Leading TV Advertising Strategy 

Over-the-top (OTT) advertising involves delivering marketing content over the internet. It is most commonly seen on streaming services like Disney+, Hulu, Netflix, and many others. According to recent estimates, the nation’s annual OTT ad spending will surpass the $2B mark by 2025.

3. North America Is the Largest TV Advertising Region

North America (primarily the U.S.) continues to represent the largest TV advertising region by spending. Nevertheless, television-based ads remain a mainstream marketing channel in virtually every major market. As such, the bottom line is that TV ads need to be a part of your marketing mix. Without them, you’ll run the risk of conceding ground to the competition. 

4. The Average American Sees Thousands of TV Ads Annually

Tying into the previous trend, a person in the United States views an average of over 5,000 TV ads every year (that’s almost 14 a day!). That number includes traditional advertisements, as well as content displayed over streaming services and other television-based programs. Regardless of platform, though, each of these commercials and marketing materials represents an opportunity for your brand to build relationships and mobilize audiences to action. 

5. Brands Are Spending Less on Traditional Advertisements

According to Oberlo, annual spending on traditional television advertisements is going to progressively decline over the next several years. Between 2023 and 2027, researchers predict that businesses will scale back their traditional TV ad spending by $6B. Despite these predictions, marketing spending on performance TV channels and streaming platforms is expected to rise. 

6. TV Ad Spend Remains a Huge Source Of Advertising Revenue

According to Statista, U.S. brands spent over $60B on television ads in 2023. While spending on traditional TV content has shrunk, programmatic ad buying on CTV platforms has only continued to grow. 

With programmatic CTV advertising, you can bid on and buy inventory in real timereal-time while simultaneously targeting niche audiences. It’s a unique framework that helps you maximize your ad spending while maintaining tight control over your marketing budget.

7. Companies Spend One-Fifth of Their Marketing Budget on TV Ads

While many brands are shifting away from linear television marketing, they aren’t abandoning TV ads altogether. Instead, they are modernizing their strategies by investing in Connected TV to better align with the viewing habits of today’s consumers. On average, about one-fifth of companies’ marketing budgets are earmarked for TV ads. 

8. Marketers Are Revamping Traditional Ad Strategies

Television advertising remains one of the most trusted sources of ad content. According to Harvard Business Review, 80% of survey respondents ranked television advertising as a source of trustworthy information about products or services. Showcasing your business on television can position your brand as legitimate and reputable, thereby opening the door for new customers.

9. 60% of Users Don’t Mind Ads

Aren’t ads the reason why millions of people cut the cord and switched to streaming services? Not exactly. In fact, there’s a growing body of research that suggests most users don’t mind ads. According to one report, 50% of viewers found linear TV ads to be effective. Some even like seeing particularly relevant advertisements. 

10. Two-Thirds of Users Will Opt In On Ads to Save Money

If users don’t mind ads, the question becomes a matter of knowing which factors drive their decision to opt in or out of commercial-free streaming services. Unsurprisingly, the decision-making process is primarily about saving money. 

According to Statista, two-thirds of viewers will opt in for ad-supported streaming services to save money. With so many streaming services offering commercials-included subscription tiers, you’ll find no shortage of opportunities to showcase your brands on these CTV platforms. 

Improve Your ROAS With MNTN Performance TV 

Each of these TV advertising trends and statistics provides us with some important insights into the state of television-based marketing channels. It’s particularly clear that performance-based TV marketing platforms represent the fastest-growing and most versatile tool for showcasing your brand. 

With that in mind, all you need is a solution that can help you capitalize on these TV advertising stats. That’s where MNTN Performance TV comes in. It’s a dynamic CTV marketing platform designed to simplify campaign management and give you access to premium CTV inventory. You can run your commercials on top streaming platforms, access creative resources, and track every relevant metric to maximize your return on ad spend

Schedule a demo with MNTN Performance TV today to learn more.

As you retool your marketing mix, use these TV advertising statistics to identify which channels and strategies represent the most pragmatic resources for your brand. And as you do so, make sure to check out MNTN Performance TV, the leading platform for CTV advertising.