61% of CTV Advertisers Plan To Increase Spending: Survey

Another reminder of the popularity of ad-supported connected TV comes in a survey by Premion and Advertiser Perceptions which found that 61% of the marketers that advertise on CTV and over-the-top TV plan to increase their spending on those channels.

On average, those advertisers expect spending to increase by 21%.

According to the study, 83% of CTV/OTT advertisers believe that CTV/OTT’s value is greater than, or equal to, that of primetime TV, with 36% saying that CTV/OTT is more valuable.

Premion released a similar study last year.

“Advertisers are increasingly shifting dollars from other channels to boost their CTV ad budgets,” Daniel Spinosa, president of Premion, the Tegna unit dedicated to selling CTV and OTT to local and regional advertisers, said.

Read more on Yahoo Finance here.