These CTV stats showcase the potential of the medium for performance marketingThere’s no denying it: In 2023, viewers are predominantly viewing television entertainment through streaming services. Last year, NBC News reported that streaming services had overtaken cable TV in popularity; meanwhile, legacy streaming services like Netflix and Hulu have struggled to hang onto their market share as dozens of new options pop up on the marketplace.
For performance marketers hoping to leverage the power of connected TV advertising, this rapidly evolving landscape can be overwhelming. It’s clear that audiences now prefer connected TV to more traditional linear options, but where are these viewers spending most of their time? We’ve rounded up the latest connected TV statistics to paint a clearer picture of who’s watching, what they’re watching, and how they feel about CTV ads.
Want to dig even deeper into OTT, CTV, and linear TV advertising? Check out The Big List of TV Viewership Statistics [Updated for 2023].
While many marketers focus their efforts on social media and search engines, connected TV gives brands the opportunity to get their message out on a bigger screen. That means more room for creativity and a chance to catch viewers’ attention when they’re most engaged while taking advantage of precise targeting and attribution that simply isn’t available for traditional TV commercials.
The question is no longer “Are connected TV ads effective?” Instead, it’s a matter of how to best utilize the tools available and find the right platform to boost your message. To learn more about how connected TV can take your marketing efforts to the next level, read our free playbook.
As for what these viewers are looking for in their CTV services, that too can vary by demographic.
A 2022 survey produced by FierceVideo and Hub Entertainment Research asked respondents which service they would keep if they had to keep all of their TV providers except one. Here’s how they responded:
In the same survey, respondents were asked what their “default” TV source was — in other words, the first source they turn on when they’re ready to watch.
Here’s a closer look at the US video streaming app market share as of late 2022:
As more viewers leave linear TV behind and spend most of their viewing time watching connected TV services, advertisers are finding success with this promising platform. In 2021, 21% of digital video advertisers moved their budgets from linear TV to connected TV. Here are the reasons they gave for the switch:
Marketers report that CTV/OTT delivers better results than linear TV on a number of fronts, including:
(IAB)
Meanwhile, viewers are increasingly receptive to CTV ads. In an April 2022 survey of 2,972 connected and linear TV users ages 18 and older, DeepIntent found the following insights:
What’s next for the CTV landscape? Expect greater buy-in from Millennials and Gen Z, while older generations decline in viewership:
(Statista)
These CTV stats paint a clear portrait of a linear TV industry in decline as CTV programming gains popularity. An increasing number of streaming services on the market means lost market share for Netflix and Hulu, but they still remain dominant — for now.
For marketers, these connected TV statistics highlight the power of CTV advertising. If you’re ready to reach your target audience using the most sophisticated CTV performance advertising platform, tvScientific can help! We make CTV ads accessible for brands of all sizes, and our platform makes scaling a snap. Want to know more? Reach out to get a free demo.