Global Streaming Revenues Will Increase by 14% in 2023
by Frankie Karrer
3 Min Read
Your destination for the latest CTV stats, trends, and insights
3 Min Read
As the pandemic begins to die down and life starts to return to normal, it’s understandable to wonder if the recent growth of Connected TV will slow down as well. But according to a new report from eMarketer, that doesn’t seem likely. Their Q2 2021 Digital Video Trends Report found that people are still watching more digital content than ever, with US adults spending 2 hours and 29 minutes per day viewing digital video (up 9 minutes over 2020). And some promising research from Interpret indicates that this number will continue to rise – half of consumers who are planning on purchasing a smart TV or streaming console within the next three months will be first-time buyers.
And with the number of consumers watching content through streaming and CTV expected to grow, it’s no surprise that ad dollars are following. For the first time, eMarketer has broken out the portion of digital video ad spend that is expected to go to Connected TV budgets. The report estimates that US upfront spending on CTV ads will reach $4.51 billion in 2021 – an increase of almost 50% over last year’s spending. And that doesn’t account for the billions spent programmatically. Ultimately, marketers that haven’t yet added Connected TV into their advertising strategies are missing out on taking advantage of the new opportunities and audiences of this ever growing channel.
Plenty of First-Time Connected TV Device Buyers Still Out There
The proliferation of streaming services, connected TV devices and smart TVs apparently doesn’t mean that everyone has bought in just yet.
What a Summer Reopening Means for Brands on Connected TV
With the summer of 2021 becoming the first season of a return to normal, it’s natural to wonder if CTV’s rapid growth throughout the pandemic will start to ebb. But like the rise of remote work, there is no putting the genie back in the bottle – CTV demand is here to stay.
WarnerMedia Wraps Upfront Sales, Securing Record Revenue
WarnerMedia became one of the last big media companies to finish this year’s upfront negotiations, in what is likely the last time it will conduct upfront business prior to its upcoming merger with Discovery.
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