Three of Five CTV/OTT Advertisers Plan Ad Spending Increases

The average increases will be by 21% according to a survey from Advertiser Perceptions and Premion

NEW YORK—While YouTube recently reported slower than expected growth in its ad revenue for Q2 2024, a new survey indicates that many advertisers still have a relatively bullish view of the CTV/OTT ad market. Three out of five advertisers (61%) using CTV/OTT said they will increase spending, with an average increase of 21%, according to a new 2024 CTV/OTT Advertiser Survey released by Advertiser Perceptions and Premion.

The survey reveals increasing investment and optimism in CTV/OTT advertising — with spending increases driven by the ability to achieve full-funnel objectives (41%), reach a highly-engaged opt-in audience (40%), and precision audience targeting (38%). Among those increasing their CTV/OTT ad spend in 2024, a notable 74% are reallocating budgets from digital, social media, or linear TV, while one in four (26%) are tapping into new ad budgets to fuel this growth.

“Advertisers are increasingly shifting dollars from other channels to boost their CTV ad budgets,” said Daniel Spinosa, president of Premion. “Our study validates that CTV is a valuable channel for achieving KPIs, and advertisers are increasingly prioritizing it as part of a complete TV strategy to drive full-funnel brand goals. They are harnessing sophisticated targeting and measurement capabilities to effectively measure its impact and drive significant business outcomes.”

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