7 Performance TV Statistics All Marketers Need to Know in 2024

In an era where precision targeting and measurable outcomes are paramount, understanding the impact of Performance TV on your brand’s revenue is crucial. How does this dynamic advertising channel stack up against traditional and digital marketing strategies? 

To uncover these insights, tvScientific surveyed over 600 marketing professionals, revealing how their teams are leveraging Performance TV — encompassing both over-the-top (OTT) content and Connected TV (CTV) devices — to optimize their marketing mix and drive superior business outcomes.

Keep reading to get a sneak peek of the 7 most noteworthy Performance TV statistics from our latest report, 2024 State of Performance TV. For a deeper dive, check out the full report.

35% of marketers plan to increase overall ad spend in 2024.

A growing number of marketers are allocating more budget towards their advertising efforts this year.

But 62% of respondents believe standing out on social media is more challenging than ever.

While social media is a popular ad channel, the majority (62%) of marketers believe standing out on social platforms is becoming more challenging as the space becomes increasingly saturated. As a result, marketers are putting greater dependency on channels like Performance TV that also allow for highly accurate audience targeting. 

Today, 54% of marketers rely on Performance TV to generate pipeline.

More than half of the marketers surveyed agreed that they rely on Performance TV to build their marketing-generated pipelines. 

Performance TV is emerging as a reliable channel for driving full-funnel impact, according to survey respondents. 

68% of marketers report an increase in their company’s brand awareness since using Performance TV.

When it comes to top-of-funnel results, nearly 70% of marketers say their company’s brand awareness has been boosted by Performance TV — but that’s not all.

65% of advertisers report an increase in sales when Performance TV is added alongside other paid channels like search and social.

Performance TV continues to drive impact further down the funnel, too, with a growing majority of advertisers reporting a boost in sales when leveraging this channel. 

Marketers ranked Performance TV as the most effective marketing channel within their marketing mix.

With a track record of successfully boosting ROI, it’s no surprise most marketers reported Performance TV as the most effective marketing channel within their advertising mix. 

In 2024, marketers plan to spend 23.6% more on CTV ads.

According to our survey, most advertisers plan to invest most into Performance TV this year, over any other ad channel. 

On average, brands plan to allocate 23.6% more towards streaming ads this year as marketers’ dependence on this media channel grows.

Learn more industry insights in our latest report, 2024 State of Performance TV.