It’s no secret that CTV has taken the digital advertising industry by storm. And it shows no signs of slowing down. With an estimated 6.6 million households expected to cut the cord this year (eMarketer), the overlap between connected TV and traditional television viewers continues to get thinner. And by 2023, 83% of Americans are projected to have at least one CTV device (AdExchanger).
CTV was already experiencing rapid growth prior to the COVID-19 pandemic. But with the pandemic causing consumers to remain homebound, and a struggling economy driving more people to stop paying for traditional TV and turn to cheaper streaming content, the value and potential of CTV was put into stark relief.
In this post, we’ll take a look at some of the findings from eMarketer’s US Connected TV Advertising 2020 Report. We’ll then see how Simpli.fi has been a front runner in helping advertisers utilize CTV advertising by looking at stats from our own platform.
eMarketer Report Predicts Bright Future for CTV
In the report, eMarketer predicted that CTV ad spending would total $8.11 billion for 2020 and would increase to $11.36 billion in 2021. This represents a 37.8% YoY increase in 2021, a much greater increase than seen in other digital channels. And compare that to U.S. total digital ad spend which only saw a 7.5% increase in 2020.
In terms of usage, CTV content streaming reached four-fifths of U.S households in 2020. And with 206.2 million people viewing CTV content, this is now an essential advertising channel for marketers to reach their target audience.
Advertiser investment in CTV is increasing because viewers are increasingly leaving traditional TV, and CTV offers ad buyers flexibility.
The report finds that CTV will do nothing but grow. In fact, eMarketer increased their forecast for CTV ad spend in upcoming years. By 2024 it will reach $18.29 billion, more than doubling the amount spent in 2020.
Simpli.fi at the Forefront of CTV Growth
We took a deep dive into the data across the Simpli.fi platform from January 2021 to May 2021 to identify trends and analyze what our advertisers are experiencing with CTV advertising growth. Here are our findings.
Significant Increase in Year-over-Year Campaign and Advertising Growth
Simpli.fi has seen a positive growth in CTV advertising thus far this year. By the end of May, spend grew 94% since the start of 2021, and 78% year-over-year (YOY).
Number of CTV Campaigns and Advertisers Continue to Grow
The Simpli.fi platform also saw a 32% YOY growth in the number of advertisers including CTV campaign in their advertising strategies, resulting in a total of 4,270 advertisers implementing CTV ads year-to-date (YTD). In addition, there was a 59% YOY increase in the number of CTV campaigns implemented thus far this year, resulting in a total number of 10,024 CTV campaigns YTD.
Our own platform data clearly shows that Simpli.fi is more than tracking the industry’s CTV growth as shown in the eMarketer report. Our CTV ad spend, number of advertisers, and campaign count all continue to grow as more and more marketers flock to Simpli.fi’s powerful CTV targeting and attribution capabilities.
Interested in learning more about Simpli.fi’s advanced CTV advertising solution?
Please reach out to us at firstname.lastname@example.org, or contact your Simpli.fi representative.