Survey: 2 in 3 advertisers using CTV/OTT will increase spending

Two in three advertisers using CTV/OTT will increase spending, with an average increase of 23 per cent, according to the 2023 CTV/OTT Advertiser Survey from market intelligence specialist Advertiser Perceptions and CTV/OTT advertising solution Premion.

The survey reveals that investment and optimism for CTV/OTT advertising remain high — and increasing expenditure is being driven by the ability to capture declining TV audiences (46 per cent), provide the benefits of TV with digital capabilities (44 per cent), and the ability to achieve full-funnel objectives (39 per cent). Additionally, among advertisers who are increasing their CTV/OTT ad spending in 2023, a majority (62 per cent) are reallocating their budgets from digital, social media, or linear TV to fund their increased spend on CTV/OTT advertising, while one in three advertisers are utilising new ad budgets for this purpose.

Read more on Advanced Television here.