According to the new report released at IAB NewFronts, digital video ad spend remains relatively stable YOY, while Connected TV (CTV) has proved to be resilient during the global pandemic -- taking share from traditional TV budgets.
Key findings:
Average CTV spend for the year is expected to reach $16MM per advertiser (+8% y/y).
More than half of buyers are shifting dollars from Broadcast (53%) and Cable TV (52%) advertising towards CTV.
In terms of specific categories, retail, media/entertainment and telecom are the largest CTV buyers, spending $32.2 million, $31.9 million, and $20.6 million per advertiser, respectively.
Video advertising on desktop is expected to be the hardest hit in 2020.
At Origin, we are the home of Native Programmatic CTV Advertising and we are proud to be championing the growth and success of Connected TV.