Ad expenditure on linear TV fell 7% in February, according to Guideline, the owner of the media measurement and analytics website Standard Media Index.

The February dip brought linear TV expenditure to its lowest level since 2017, when SMI began measuring U.S. consumption.

Online video and over-the-top spending increased by 43% throughout the month.

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Overall, US ad spending increased by 10% in February compared to the same month a year ago, building on a similarly robust performance in January.

Guildline reported that February was the lowest month in 2023, particularly in comparison to 2022, when NBCUniversal aired the Winter Olympics.

READ MORE: National TV Ad Spending Fell 5% To $43.7 Billion In 2023

Digital media grew 22% in February, surpassing 60% of advertising spending for the first time.

Traditional media dropped 6%.