45% of Digital Political Ad Spend in 2024 Will Go to CTV
by Frankie Karrer
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Your destination for the latest CTV stats, trends, and insights.
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Subscription streaming companies were some of the first entrants into the Connected TV space, offering TV and movie content to subscribers at a fixed price (and often, with no ads). But last year, the state of the economy caused many consumers to turn their sights to those streaming services that offered lower cost, ad-supported options for their price-conscious customers. As a result, we saw paid subscription services such as Netflix, Disney+, and HBO Max enter the ad-supported streaming race by including new lower price tiers with ads to their lineup as well.
And in 2023, we will begin to see the effects that these changes have made to the spread of ad spend in the digital video and CTV industry. According to research from eMarketer, we can expect to see US subscription OTT video ad spending to reach almost $10 billion and account for 3.4% of all digital ad spending by the end of 2023. This will bring subscription OTT to 10.2% of total video ad spending. Ultimately, this segment is just a piece of the Connected TV advertising pie, but will contribute significantly to the $26 billion in CTV advertising that eMarketer predicts will be spent by the end of this year.
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Retail media networks are now making moves to sync with CTV platforms, which will create more opportunities to reach customers the best way possible–with video.
How the Biggest Streaming Services Stack Up at the End of 2022
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