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Connected TV (CTV) ad spend in the US will pass $25 billion this year and continue to grow by double digits through the end of our forecast period in 2027. Even with a challenging market, the format is in decent shape.

Connected TV (CTV) ad spend will exceed $30 billion in the US next year, according to our forecast. At a growth rate of 22.4% YoY, that makes CTV one of the fastest-growing ad formats we track. But where those ad dollars are coming from isn鈥檛 so simple.

US adults will spend an average of 230.3 minutes per day on mobile in 2023, according to our forecast. While they will spend less time with connected TV (CTV), at 114.9 minutes per day, the gap between CTV and mobile is shrinking.

Baby boomers make up the largest share of TV viewers, while 25- to 34-year-olds predominate CTV usage. Marketers increasingly plan their buys across these mediums to achieve their targeting goals.

In the US, 77% of TV-owning households had a smart TV as of Q1 2023, according to Hub Research. Connected TVs, which include smart TVs, streaming sticks, and other devices, will be used in 115.1 million households next year, more than double the number of traditional pay TV households, according to our forecast.

LG and Samsung raise their connected TV game: While Samsung embraces interactivity, LG sharpens targeting with LoopIQ.

US linear TV ad spend is shrinking (8.0% YoY) as connected TV (CTV) ad spend grows (21.2% YoY). This year, US CTV ad spend will total $25.09 billion while linear will total $61.31 billion.

Roku stands its ground in Q1 as revenues edge up 1%: Roku has the third-largest share of CTV spending, showing how tight the market is.

On today's episode, we discuss how much advertisers spend on traditional TV, whether connected TV (CTV) is stealing all of its dollars, and how much time Americans spend watching both. "In Other News," we talk about the one big takeaway from this year's upfronts and NewFronts and whether Peacock's new pricing strategy will work. Tune in to the discussion with our analyst Paul Verna.

Subscription OTT video is chasing linear TV in terms of time spent in the US. We estimate adults still spend significantly more time per day watching TV, but that figure is decreasing and will fall below 3 hours this year. Meanwhile, for subscription OTT video, time spent will surpass an hour and a half per day. But ad spend on these platforms is not proportional to time spent.

鈥淸Cookie deprecation] is a monumental change. It has also been a long time coming,鈥� our analyst Evelyn Mitchell-Wolf said on a recent 鈥淢eet the Analyst鈥� webinar. The signal loss will force advertisers to shift targeting strategies, campaign measurement, and identity solutions. But other trends鈥攑rogrammatic transaction methods and connected TV (CTV)鈥檚 growing share of ad spend鈥攚ill stay their course.

YouTube is the most widely used free video service among US internet users of all generations, according to Kagan. Its highest saturation is among Gen Zers (82%) and millennials (78%).

Just as television evolves, so does its advertising potential. With a significant increase in viewership for ad-supported streaming services and FAST channels, the opportunity for advertisers is immense. Discover how the shift towards legacy and rerun content is reshaping strategies.

On today's episode, we discuss innovations in connected TV (CTV) and the outlook for next year. "In Other News," we talk about what to make of recent price hikes for streaming platforms and YouTube launching Primetime Channels. Tune in to the discussion with our analyst Paul Verna and Michael Hopkins, vice president of go to market at MNTN.

Nearly half (47%) of marketers worldwide would spend more on connected TV (CTV) advertising if they had access to higher-quality targeting data, according to Lotame. Meanwhile, 36% are looking for a more efficient buying or planning process.

Next year, US connected TV (CTV) ad spend will hit $26.92 billion. This market has grown by double digits each year since we began tracking it in 2017, and it will continue to do so through the end of our forecast period in 2026.

Combined US TV and connected TV (CTV) ad spend will grow every year through to the end of our forecast period in 2027, when it will reach nearly $100 billion, according to our October 2023 forecast.

We forecast US advertisers will spend a combined $86.40 billion on linear and connected TV (CTV) this year鈥攊n other words, about 1 in 4 ad dollars will go to ads on the TV glass. But as linear TV ad spending stagnates, networks are incentivized to prove the reach and efficacy of their digital properties.

Nearly a third of the US population will be free ad-supported streaming TV (FAST) viewers by 2027, accounting for a total of 114.5 million viewers, according to our September 2023 forecast. That large audience base, coupled with the rise of new players and the abundance of ad inventory, is making FASTs increasingly appealing to media planners鈥攅specially those on a budget.

YouTube is positioned to be an advertising powerhouse. It鈥檚 one of the original digital video players, courting advertisers at a time when connected TV advertising is climbing. The platform鈥檚 Google ties offer it a more trustworthy reputation in the US than TikTok. And use is already extremely high. But YouTube鈥檚 high standing also makes growth difficult. Here are five charts summarizing YouTube鈥檚 position and potential.

Spotify wants a share of CTV ad spending: The audio app is partnering with Roku to capitalize on consumers who use their TVs as living room speakers.

In part one of this two-part podcast episode, we discuss some predictions for 2024 that are too specific to be 100% certain about but could still come true, including: which subscription video-on-demand (SVOD) platform Apple will likely buy, where metaverse playgrounds will spring up, and what the ruling between Google and the US Department of Justice will be. Tune in to the discussion with our vice presidents of content Suzy Davidkhanian and Paul Verna and analyst Max Willens.

In July and August, the US ad market saw its first consecutive two months of growth in over a year, according to Standard Media鈥檚 US Ad Market Tracker. Platforms are focused on keeping that momentum alive with several updates. Multiple platforms are boasting improved AI targeting and enhanced connected TV ad solutions. Here is everything new in September.

YouTube has a head start in CTV ad spending: Viewers and media companies are pivoting to digital, but spending shows YouTube is well in the lead.

Consumers鈥� appetite for quality, on-demand content has contributed to connected TV鈥檚 (CTV鈥檚) stronghold as the fastest-growing major ad format in the US. 鈥淭here鈥檚 a lot more for [advertisers] to weed through in terms of the opportunities and options of where to place our clients鈥� ad dollars,鈥� Jennifer Kohl, executive director and head of US media at VMLY&R, said of CTV during our virtual 鈥淎ttention!鈥� summit last week.