Note: This article is based on Variety Intelligence Platform’s special report “2023 Media & Tech Trend Tracker,” available exclusively to subscribers. Connected TV is no longer the future but t…
of the total U.S. media advertising market in 2022, growing annually to reach 9% by 2026.
This will be due to a number of different viewing formats and options that are included beneath the CTV umbrella. Connected TV includes any type of ad-supported streaming, free or subscription; streaming of broadcast or cable TV channels via either MVPD/VMVPD service apps or individual network apps that require service authentication ; and revenue generated from subscribing to a service via a CTV interface. .
This points to four things occurring across CTV: an increase in time spent streaming; an increase in both the amount of money being spent on subscription streaming services and the number of services subscribed to; and the increasing acceptance of advertisers for the format. Within the next two to three years, CTV ad spend will outstrip traditional TV. The only question is when.
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