Gavin Bridge Senior Media Analyst Note: This article is based on Variety Intelligence Platform’s special report “2023 Media & Tech Trend Tracker,” available exclusively to subscribers. Connected TV is no longer the future but the present.
The format will ultimately be how the vast majority of TV content is viewed, consumed via apps built into smart TVs, and thus represents where ad revenue will derive.
This also explains why the likes of Comcast, Charter, Roku and Amazon have all announced plans to build their own TV sets in order to own as much of the new revenue stream as possible.
The Interactive Advertising Bureau (IAB) estimated in its ”2021 Video Ad Spend & 2022 Outlook” that domestic ad spend on CTVs and devices would hit north of $21 billion in 2022.
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