May 2023 saw a 21% rise in connected TV viewing hours over May 2022.

Additionally, the number of TV watchers who stream has increased; 73% of US households stream presently, compared to 69% in 2022. The amount spent on CTV ads is also rising quickly.

RELATED: In The Month Of June, Brands Achieved A Significant Milestone By Reaching A Monthly Ad Spend Of $1 Billion On Connected TV (CTV) Advertising

Why it matters to us. These figures support the argument that advertising funds should be shifted from linear TV to online and CTV content. The increasing hours seen, expanding targeting options, and expanding reach of CTV virtually guarantee that ad spending will rise in the future.

duration of the stream. Between January 2022 and January 2023, more hours of CTV and online video were viewed than hours of linear TV. For ad dollars, CTV and online video compete most directly with linear TV. A total of 131 billion hours are spent by viewers on CTV, while an additional 125 billion hours are spent on online video.

Marketers who appreciate CTV’s targeting features ought to pay attention to how audiences spend their time. Although Netflix has lost their share of CTV hours by 5% in the past year, they have added ad-supported streaming options.

RELATED: Unleashing The Streaming Revolution: Exploring The Power Of OTT, CTV, And FAST TV

There are currently CTV choices available from suppliers of linear TV. Three CTV services provided by linear TV providers were among the top ten in terms of hours viewed per household, The highest CTV was 3% for Spectrum.

Smart TVs are now the main means by which consumers can get CTV streaming. Since 2021, the number of households using Smart TVs for content streaming has climbed by 23%.


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