As we’ve previously discussed, 2020 has brought major growth in CTV advertising. Between more homebound consumers due to the pandemic, and a shift in eyeballs to streaming content, the acceleration has been notable. After all, industry experts had already predicted strong growth in OTT/CTV advertising at the start of 2020, projecting a 40% boost in year-over-year spending. In fact, U.S. advertisers were expected to spend $5 billion on OTT/CTV in 2020. OTT/CTV advertising has become a major player in our industry, as businesses of all sizes look to achieve the impact of television ads with the precision of digital advertising.
Another big factor in OTT/CTV growth is increased adoption of OTT/CTV devices and streaming services. With an estimated 820 million connected video devices in households across the United States, advertisers have a high probability of reaching consumers through multiple devices in a single household. In Q2 2020, ad revenues for AVOD platforms increased by 31% YOY as users increased streaming time and advertisers allocated more budget to OTT/CTV ads.
So what does this all mean for advertisers?
In this latest Simpli.fi industry report, we analyzed our data and analytics from thousands of advertisers on our platform to see the overall performance of OTT/CTV campaigns, whether the pandemic affected spending, and how different industries utilized the solution. We looked at how advertisers have adopted OTT/CTV advertising in 2020, and made some predictions for where OTT/CTV advertising is headed in the near future.
Access the full report below to get an in-depth look at how advertisers are utilizing OTT/CTV advertising and where we’re headed in the future, and for more information, reach out to us at email@example.com.