Connected TV (CTV) is projected to be the fastest growing ad format in 2023, with CTV advertising spend expected to be greater than both retail media and social media ad spend. If you’re not already, now is the time for your brand to start taking advantage of this wide-reaching ad type. In this CTV infographic, you’ll discover CTV stats to help supercharge your brand’s success with the format, including platform-specific data, revenue growth stats, demographic data about CTV users, and more.
The State of Connected TV
US CTV Advertising Growth
- CTV ad spend has more than doubled since the onset of the pandemic
- CTV is expected to be the fastest growing ad format in 2023
- In 2023, US CTV ad spend will grow 27.2% year-over-year to reach $26.9 billion
- Comparatively, US retail media ad spend is projected to grow just 20.5% and social media ad spend is expected to grow 8.8%
- In 2023, CTV will account for 16.5% of all US display ad spend and 7.3% of all US media ad spend
Projected CTV Ad Spend by Platform for 2023 (in Billions)
- Hulu – $4.82
- YouTube – $3.83
- Roku – $3.08
- Pluto – $1.64
- Tubi – $1.26
- In 2026, US CTV ad spend will reach $43.6 billion (more than double what it was in 2022!)
- By 2026, US CTV ad spend will be more than 4x what it was in 2020
- Comparatively, linear TV will remain mostly stagnant
CTV a Top Choice Among Consumers
- In 2023, nearly 7 in 10 US adults will be CTV users
- More than 3 in 4 people in the US aged 12 to 54 are CTV users
Number of US Connected TV Users (in Millions)
- 2020: 184.8
- 2021: 191.6
- 2022: 195.0
- 2023: 197.8
- 2024: 200.2
- 2025: 200.8
- In 2023, 61.5 million US Millennials will use connected TV devices, compared to 33.1 million Baby Boomers
- By 2024, nearly 40% of all YouTube watch time will come from a connected (non-mobile or non-desktop) device, compared to 31% in 2020
CTV Obstacles
- Challenges that US advertisers say they face with CTV:
- Fragmented programmatic supply paths: 35%
- Measuring incremental reach across platforms & publishers: 48%
- Too expensive: 41%
- Factors marketers say would influence them to spend more on CTV advertising:
- Higher-quality targeting data: 47%
- More efficient buying & planning process: 36%
- More efficient frequency capping: 30%
Tying It All Together: CTV Stats Infographic
CTV usage and ad revenue alike have skyrocketed since the onset of the coronavirus pandemic. US CTV ad spend is expected to more than quadruple between 2020 and 2026, and by 2024, CTV will empower brands to reach over 200 million consumers in the US alone.
Whether your goal is to increase brand awareness and visibility or to drive more of your target audiences to make a purchase, connected TV is a powerful tool in any advertiser’s arsenal to reach customers across the entire marketing funnel. As a programmatic ad type, CTV can get your brand in front of your ideal customers at the most ideal time and place.
Don’t miss out on the profitable opportunities that CTV has to offer. If you don’t know where to start, the programmatic pros at ROI Revolution can help. Our team is primed to discover untapped opportunities for growth that exceeds your expectations. To explore the wins that we can uncover for you, send a message to our team today.
To discover more about the ad channels and platforms that are helping brands excel in ecommerce, peruse more of our infographics below:
- The Programmatic Path to Purchase
- The State of Pinterest Advertising
- The State of TikTok Advertising
- Performance Max 101
Sources
- eMarketer, Why performance marketers should capitalize on CTV’s surge—and what’s holding them back.
- eMarketer, Advertisers hone in on marketing opportunities as TV viewing evolves.
- eMarketer, Pitching CTV investment in 5 charts.
- Statista, Connected TV (CTV) advertising spending in the United States from 2019 to 2023, by company.
- Statista, Number of connected TV users in the United States from 2020 to 2025, by generation.
- Statista, Challenges most likely to impact connected TV (CTV) advertising in the United States as of March 2022.
