Connected TV Ad Spending Leads the Way in Growth

Increases Come Even as Forecast Is Trimmed; Gains in Time Spent Point to More Engagement

Report by Paul Verna  | Apr 26, 2023
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Table of Contents
Executive Summary
We’ve lowered our CTV ad spending outlook, but the format remains robust.
Ad spending growth aligns with time spent on CTV.
Hulu leads in CTV ad revenues, but others aren’t far behind.
Media Gallery
About This Report
Connected TV (CTV) will be the fastest-growing major ad format in 2023, despite a downward revision in our latest forecast. Time spent on CTV is also showing big gains.
Topics
Connected TVs
United States
Table of Contents
Executive Summary
We’ve lowered our CTV ad spending outlook, but the format remains robust.
Ad spending growth aligns with time spent on CTV.
Hulu leads in CTV ad revenues, but others aren’t far behind.
Media Gallery

Executive Summary

Connected TV (CTV) is the fastest-growing major ad format in the US, drawing strength from the migration of programming, viewers, and time spent to digital channels. Even after a forecast downgrade driven by adverse macroeconomic conditions and challenges in digital ad targeting and measurement, CTV remains a place where marketers see tremendous value in their ad investments—especially at a time when traditional TV is waning.

Key Question: What is our outlook for CTV ad spending in the next four years as linear TV continues to recede and emerging digital formats, like retail media, take hold?

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Table of Contents

  1. Executive Summary
  2. We’ve lowered our CTV ad spending outlook, but the format remains robust.
  1. Ad spending growth aligns with time spent on CTV.
  2. Hulu leads in CTV ad revenues, but others aren’t far behind.
  1. Media Gallery

Charts in This Report

US Connected TV (CTV) Ad Spending, 2021-2027 (billions, % change, and % of digital ad spending)Average Time Spent per Day With TV vs. Connected TV (CTV) by US Adults, 2019-2024 (hrs:mins)
US Connected TV Ad Revenues, by Company, 2023 (billions)

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authors

Paul Verna