report on online ad spending. IAB is the industry group that hosts the NewFronts, which kicked off this week.Based on those numbers, between 2020 and 2022 CTV ad spending will have more than doubled.“Digital video is a driving force for buyers and will continue to be in 2022,” said Eric John, VP, IAB Media Center. “However while CTV leads the substantial growth of digital video ad spend, the amount of dollars currently allocated to CTV is not proportionate to the amount of viewer time spent with the channel.
The time is now for brands and buyers to follow consumer attention.”Three out of four video buyers (76%) labeled CTV as a ‘must buy’ in their media planning budgets.
Buyers cited data usage, transparency, and no reliance on third-party cookies as some of the advantages of CTV over linear TV.
While CTV will account for 36% of total time spent with linear TV and CTV combined in 2022, according to an estimate from eMarketer, only about 18% of ad spending is allocated toward the medium.
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