American advertisers will spend almost $7 billion this year on connected TV ads. Connected TV is growing rapidly as advertisers look to target audiences watching long-form, premium digital content on their living room screens.
That’s according to eMarketer’s first-ever estimates of connected TV ad spending, which they expect to account for nearly 3% of US advertiser outlays this year.
They forecast that by 2023, advertisers will devote almost 5% of their paid media budgets to connected TV placements.
Connected TV advertising is defined as digital ads that appear on connected TV devices, which include smart TVs and TVs hooked up to the internet via a set-top box, game console or similar device.
Formats include display ads that appear on home screens and in-stream video ads that appear on connected TVs from platforms like Hulu, Roku and YouTube.
Connected TV advertising excludes network-sold inventory from traditional linear TV and addressable TV advertising. Read the rest at eMarketer.