NewFronts

Connected TV Drives Massive Growth in Digital Video Spend

Last year, advertisers spent an average of $20 million on CTV

Nearly three-quarters of buyers are shifting ad budgets from broadcast and cable to CTV.
Nearly three-quarters of buyers are shifting ad budgets from broadcast and cable to CTV.By lijing/Getty Images
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By Mollie Cahillane

Growth in digital video advertising shows no signs of slowing down in 2021. According to the IAB’s annual report, Video Ad Spend 2020 and Outlook for 2021, digital video advertising is expected to represent 56% of total video spend this year.

The report was launched at today’s 2021 NewFronts, and much of this growth is driven by connected TV. In a year where smart TV players look to shift ad dollars from linear, nearly three quarters (73%) of CTV buyers report shifting media budgets from broadcast and cable to CTV.

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MollieHS-3

Mollie Cahillane

Mollie is Adweek's senior TV reporter, covering the business of connected TV, streaming, measurement and sports media.

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