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

The ad intelligence service predicts a sustained increase in advertising expenditure across several digital channels, such as Connected TV (CTV), YouTube, and mobile devices.

According to data provided by Vivvix, a prominent ad intelligence supplier specializing in competitive advertising analytics across various media platforms, the expenditure on advertising on CTV (Connected TV) during the month of June amounted to a staggering $1 billion. This significant achievement in the sector aligns with the forecasts outlined in Vivvix’s study for the first half of 2023, indicating that an increasing number of businesses are acknowledging the worth and possibilities associated with advertising on this platform. This represents the most comprehensive degree of information regarding CTV advertising expenditure currently accessible inside the industry.

The Vivvix dataset encompasses the expenditures on advertising made by numerous advertisers across an expanding range of streaming services, such as Hulu, Peacock, Paramount+, Pluto, Discovery+, Max (formerly known as HBOMax), Tubi, Roku, and, as of May of the current year, Disney+. Additionally, the data presented in the analysis demonstrates the patterns seen across several categories. Notably, sectors such as home goods and drinks have experienced a substantial growth rate of over 300% when comparing year-over-year data on Connected TV (CTV) platforms. Conversely, the June survey indicated that categories such as Pets and Cosmetics and Beauty did not exhibit a significant level of popularity.

According to Andrew Feigenson, the CEO of Vivvix, this achievement confirms the predictions regarding the rise of CTV as a crucial and essential medium, transitioning from an experimental phase. The current trend shows that viewers are dedicating a significant amount of their time to these platforms. To maintain a competitive edge, businesses must actively engage with these platforms and gain insights into the strategies employed by their competitors. The data provides valuable insights to brands regarding the areas of opportunity within the video journey. In the month of June, it was observed that there was a noticeable lack of pet manufacturers engaging in advertising activities on the Disney+ platform. This indicates a genuine opportunity.

According to Feigenson, having the capability to adopt a more comprehensive perspective of the video landscape enables advertisers to gain insights into the strategies employed by their competitors across several platforms. The reallocation of advertising funds across novel and developing platforms might pose challenges for advertisers in establishing connections. Therefore, it is crucial for brands to possess a broader perspective in order to navigate this landscape effectively. It is anticipated that an increasing number of firms will dedicate a greater portion of their advertising budgets towards Connected TV (CTV) and other digital media platforms. This shift is expected to have an impact on traditional television advertising.

The achievement of reaching a monthly expenditure of $1 billion in Connected TV (CTV) represents a significant development, particularly considering that digital formats currently account for 70% of the whole expenditure, with video being the medium experiencing the most rapid growth. According to the initial section of Vivvix’s Platform Pandemonium study, the analysis conducted by the business revealed a significant increase of 79% year-over-year in ad-supported video on demand (AVOD) during the year 2022. Additionally, AVOD accounted for a total of 5% of all online video content.

Furthermore, alongside CTV, YouTube represents another domain within the digital ecosystem that is seeing significant expansion. This platform consistently attracts the attention and interest of both advertisers and audiences alike. In the month of June, Vivvix successfully recorded a total of $1.4 billion in advertising expenditure specifically on YouTube platforms. In the foreseeable future, Vivvix foresees a sustained increase in advertiser expenditure on YouTube, particularly due to the expanding viewership of non-linear properties.

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

The ad intelligence service predicts a sustained increase in advertising expenditure across several digital channels, such as Connected TV (CTV), YouTube, and mobile devices.

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