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There has been an accelerating shift in recent years away from traditional cable TV towards non-pay TV options in households, such as streaming services and online platforms. Advertisers need to adapt their strategies and consider new ways of reaching their target audiences through these channels to remain effective in their marketing efforts. TMH Publisher Network is positioned out front and capitalizing on this ongoing shift away from traditional cable TV.
Only 57% of US video ad spending went to linear TV, a decline from 62% in 2021 and 71% in 2020. By comparison, ad spend share is increasing for connected TV (CTV) and other digital formats such as social video.
CTV is expected to see exponential growth in the coming years, with ad spend projected to reach $19 billion by 2024. Even with cord-cutting, 78% of people still prefer watching video on TV, and 82% of U.S. households have access to Smart TVs or internet-connected televisions. As a result, 60% of marketers have shifted their ad dollars from linear to CTV and OTT advertising.
Traditional media is going backwards while all digital media is growing and CTV outpacing all by a large margin.
As of the end of 2021 Roku was by far the most popular CTV platform and still remains that way today, Tizen/Samsung is close on the heels. Product managers and developers should be wary of the popularity to ensure their apps are compatible and ready for these platforms.