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Connected TV ad spending is still a drop in the bucket compared with what marketers spend on traditional television, but the number is growing rapidly, increasing 38% to a projected $6.94 billion this year, according a new eMarketer forecast.
That connected TV (CTV) ad spend will top $10 billion by 2021 and reach $14 billion by 2023, when it will account for 4.7% of total media ad spending.
These numbers grow as more viewers use connected TV devices—including smart TVs, Roku and Apple TV—to stream content on YouTube, Hulu and Roku.
(For its CTV tally, eMarketer includes digital advertising that appears on connected TV devices, including display ads on home screens, and ads that stream during programming on platforms like Hulu, Roku and YouTube.
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