U.S. advertisers will spend almost $7 billion this year on connected TV ads. Connected TV is growing rapidly as advertisers look to target audiences watching long-form, premium digital content on their living room screens.
The largest pay-TV providers in the U.S. — representing about 93% of the market — lost about 1,530,000 net video subscribers in 2Q 2019, compared to a pro forma net loss of about 420,000 subscribers in 2Q 2018. The future outlook is equally gloomy.
Advertising expenditure attributed to OTT TV episodes and movies will more than double between 2018 and 2024 to reach $56 billion across 138 countries. Online TV and video ads have been considerably boosted by the rapid growth in mobile advertising.
via Digital TV
“The days of overpriced suspect hotdogs and rioting stadiums are far from over. Sports, despite their inability to retain cord-cutting TV viewers, remain an immovable part of the attention economy.”
via MIDiA Research
Outside of very specific cases, it’s tough for B2B advertisers to justify major investments in traditional TV or trade publications. The fleeting foothold of these media platforms is diminishing and there are no signs of that changing in the coming years.
According to Nielsen data, the share of time spent with ad-supported content on platforms (such as TV, radio, smartphones, video games and tablets) for adults in 2017 was 86% — a number that’s remained relatively flat over the past decade.