2020 Vision: Getting Back to the Fundamentals of Connected TV Advertising
December 13, 2019- BROADCASTING & CABLE-
As we close out the decade and reflect upon 2019, the transition to Connected TV (CTV) and over-the-top (OTT) viewing is transforming the TV industry faster than ever. There’s one universal truth — shift happens. The dramatic shift in viewership to streaming shows no signs of abating with eMarketer revising its 2019 US CTV forecast from 190.0 million monthly viewers to 195.1 million.
Moreover, the IAB reports 73% of streamers are now watching ad-supported OTT as more advertisers embrace the medium. eMarketer estimates CTV ad spend will top $10 billion by 2021 and reach $14 billion by 2023. Amid this growth, there’s still significant opportunity to close the gap between CTV/OTT viewership and advertising spend.