The average North American adult will spend more time watching digital video than TV in 2024, according to a recent eMarketer study – confirmation of connected viewing's predominance in the streaming revolution.
Time spent daily with traditional linear TV will fall below 3 hours in 2023, down more than 1 hour 30 minutes over the course of a decade.
And in 2022 digital video is set to surpass linear terrestrial TV in ad spending, forecast to hit $76.20 billion and keep growing through 2026.
Meanwhile, linear TV ad spend will fall short at $68.35 billion and then decline for the next few years.
Upfront spending – at the start of the advertising season when new shows are scheduled to begin, and thus considered to be the optimum time to launch new ad campaigns – is flowing dramatically toward streaming services.
Upfront CTV ad spending will grow by 34.6% to $6.41 billion. That figure is about the total CTV ad spend in 2019.
This includes spending committed in advance for advertising on TV screens, including internet-enabled smart TVs as well as TVs connecting through external devices like Roku and Amazon Fire sticks, and video game consoles.
CTV is eating up an ever larger share of digital budgets, with upfront spending accounting for about one-third of total CTV ad spend.
In 2022, total US CTV ad spend will reach $18.89 billion.
According to the statistics, in 2021 the majority of advertisers allocated from 21% to 40% of their budgets to CTV. And this trend will continue to grow throughout 2022.
In North America nearly one-third of all video impressions are now served through CTV devices, making CTV a leading driver of the region’s verified impressions.
And the share of video impressions by device and region indicates that North America takes a 29% of global ad spend, whereas in Asia Pacific (APAC), Europe, Middle East & Africa (EMEA), and Latin America(LATAM) the share of CTV impressions is much lower and desktop, mobile app, and mobile web make the majority of impressions.
This situation is not unsurprising, since the huge receptive North American consumer marketplace has always dominated marketing and global ad spends through all media types. But with the rapid proliferation of connected devices in most parts of the world, massive opportunities now arrive in many geographic regions, with new markets ripe for the picking.