US CTV Ad Spend Will Exceed $26 Billion in 2023

2 Min Read

 As we approach the end of the year, the advertising industry is making predictions on what the Connected TV ad landscape will look like in 2023 (and beyond). In a new report, eMarketer reveals that they have raised their estimates on expected Connected TV advertising spend, and now US CTV ad spend is expected to exceed $26 billion in 2023—a $3 billion increase over their forecast in April. The report attributes these changes to a rise in the number of streaming services that have added ad-supported tiers and content, and the unexpected ad growth of mid-tier streaming services.

While linear TV will still account for more ad dollars than CTV in the next couple of years, this rising ad channel is catching up. eMarketer now expects Connected TV to reach 50% the size of linear ad spending by the end of 2024. This is a dramatic increase over the first year eMarketer began to track CTV ad spend—2019—when the source estimated CTV ad spend was about one-tenth of linear TV’s total. Ultimately, this will come as no surprise to anyone who has been following CTV over the last few years—with its ability to combine the power of television with the precision of digital, this channel is uniquely positioned within the advertising industry at large.

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