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Looking at paid and linear: As free TV experiences growth鈥攁verage daily time spent with FAST for US adults is expected to reach 19 minutes per day, growing 10% YoY, in 2025鈥攑aid streaming services and linear could bear the brunt of the shift. Streaming services continue gaining viewers worldwide, but the cost of streaming is increasing.

Netflix鈥檚 ad revenues are growing steadily, projected to surpass $2 billion in US revenues in 2025 and $3 billion by 2027, per our forecast. The growth is supported by the launch of its in-house ad tech stack, and could increase once the company rolls out to new markets.

Despite these efforts, livestream shopping hasn鈥檛 become big business in the US like it has in China. But the popularity of TikTok Shop, which is integrated with TikTok Live, has kept growth in consumer adoption of livestream shopping in the double digits. We expect that US livestream buyers will surpass 60 million by 2028.

In its fiscal Q1 2026 results, the company reported that global advertising revenues jumped 50% YoY, with Walmart Connect鈥攖he retailer鈥檚 US retail media arm鈥攔ising 31%. That performance includes early gains from its Vizio acquisition, as the company begins linking retail data to streaming inventory in a closed-loop environment.

YouTube strikes deal to broadcast first game of the NFL season: The move responds to fans embracing digital for sports and presents an opportunity for advertisers.

惭补虫鈥檚 US ad revenues are forecast to nearly double from $0.41 billion in 2023 to $0.80 billion by 2027, per our forecast. Advertisers stayed engaged despite brand confusion, prioritizing content over logos. But unclear branding often signals deeper uncertainty about direction. Our take: Reverting back to HBO Max is a cleanup job.

The new formats are set to run on ad-supported Prime Video content鈥攚hich reaches 130 million monthly US viewers, of which 88% have shopped on Amazon, per the Upfront presentation. We predict that overall US Prime viewers will reach over 166 million in 2025.

Shorts now dominate prime screen space on connected TVs, signaling YouTube鈥檚 bid to normalize mobile-first formats in the living room鈥攚hether users like it or not.

ESPN鈥檚 new platform marks a bold digital pivot: Meanwhile, Fox is launching Fox One to stay competitive in the streaming era.

NBCU will sell Versant鈥檚 US ad inventory during the next two upfront cycles. Zooming out: NBCU鈥檚 evolving content ecosystem is part of the legacy media giant鈥檚 push to offset shrinking traditional TV revenues. Sports deals will allow NBCU to maintain a live viewership advantage and command premium ad rates, combatting declining traditional TV ad revenues.

(We forecast US mobile game ad revenues will reach $7.96 billion by the end of this year.) By analyzing in-game behavior, the company offers advertisers precise user segmentation and targeting鈥攕omething that consumers increasingly see as less obtrusive. How does AppLovin compare with competitors like Google and Meta? AppLovin now commands a notable share of mobile ad spending.

After last quarter鈥檚 rare miss, The Trade Desk delivers: Strong earnings and UID2 adoption signal confidence for 2025 and beyond.

Click here to view our full forecasts for US programmatic direct nonsocial digital display ad spending and US real-time bidding (RTB) nonsocial ad spending. But PMPs have also gained share of programmatic budgets. In 2020, PMPs and the open exchange each accounted for about half of nonsocial RTB ad spending.

The update introduces a My Netflix hub and real-time personalization tools, all aimed at helping users find something fast鈥攁nd not flee to YouTube.

Streaming is dominating US viewership, accounting for 43.8% of total viewing time, per Nielsen, and most of the time spent streaming is coming from YouTube and Netflix. Free ad-supported streaming television (FAST) channels are showing promise, with broadcasting media company MediaCo noting 18% YoY growth in its FAST viewer base. AI-powered tools are transforming marketing.

Looking ahead: Disney+ is projected to generate $4.12 billion in US subscription revenues in 2025, per our forecast. That鈥檚 up 8.6% from the prior year, while its ad-supported tier should bring in $1.27 billion鈥攎arking a 20.1% increase. Hulu's ad business, after contracting in 2023, is on track to reach $2.78 billion in 2025, up 4.3% YoY.

Studio and linear remain a dark cloud for WBD and Paramount: Revenues were down YoY for both companies, but streaming remains a beacon of hope.

The company鈥檚 investments, which include building out its own logistics network to improve delivery times, has helped it deliver strong growth as the US-led trade wars disrupt much of the global economy. Mercado Libre, which doesn鈥檛 export to the US, has largely sidestepped that volatility鈥攑ositioning it to capitalize on regional growth even as rivals face headwinds.

Spotify鈥檚 play counts and YouTube鈥檚 two-person plan signal a fierce fight for viewers in the podcast space鈥檚 visual future.

Some 60% of US marketers expect a 6% to 10% decline in ad budgets due to tariff-related pressures, according to a February IAB study, and only 9% of US consumers say tariffs won鈥檛 change their spending habits, per a February Numerator study. While connected TV (CTV) is expected to continue growing, the impact of leaner advertiser and consumer budgets remains uncertain.

Our take: For now, performance wins; even before tariffs entered the picture, far more US advertisers planned to boost performance ad spending over brand advertising. Ad buyers are acting with caution, not necessarily because they don鈥檛 see long-term value in brand-building鈥攂ut because the current environment makes it hard to wait for payoffs.

Roku delivered strong Q1 results and acquired Frndly TV: The deal boosts live content and supports subscription growth without overspending.

Forty percent state they are increasing ad spend for CTV/OTT channels because ads can reach these audiences, with another 38% appreciating the channel鈥檚 ability for precision audience targeting. Thirty-five percent claim CTV/OTT advertising helps them capture declining audiences from traditional TV.