Data Market News - January 12th, 2023
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Combined CTV and linear TV ad spend will near $100 billion in 2027?
The combined ad spend for US TV and connected TV (CTV) is projected to grow annually, reaching nearly $100 billion by 2027, with CTV driving the growth, expected to increase by $5.50 billion YoY in 2024.?
This growth in CTV ad spend will offset the decline in linear TV ad spend, which is projected to decrease over the next few years. The migration from linear to digital is anticipated to cause a 24% decrease in TV and CTV ad inventory, but higher CTV ad prices are expected to mitigate the impact of this drop in ad inventory.
Source: InsiderIntelligence
Consumers Spent $222.1bn Online During Holiday Season?
Consumers spent a substantial $222.1 billion on online shopping during the recent holiday season, marking a 4.9% increase from the previous year. While spending was relatively equal on both mobile and desktop/other devices, specific dates revealed significantly higher conversion rates on mobile, with rates around double on Black Friday and Cyber Monday.?
Source: ExchangeWire
UK Video Sector Grew 10% in 2023?
The value of the UK video, games, and music markets increased for the eleventh successive year in 2023 bringing it to a record high of ￡11.9bn, preliminary figures from digital entertainment and retail association ERA reveal.
Source: ExchangeWire
3 trends redefining how consumers will spend their time and money in 2024?
1. Flattening media usage means fiercer ad competition - time spent on social media is stagnant through 2025, with less than a minute increase YoY, per eMarketer’s estimates.
2. US ecommerce is far from the ceiling - by 2027, US consumers will spend only 1 in 5 dollars online, per eMarketer’s forecast. There are a lot of opportunities to grow your business through physical retail channels
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3. Advertisers should tap new avenues - advertisers should take advantage of “innovative formats that break through the clutter”.
Source: InsiderIntelligence
AI Agent Ad Buys To Top $1B This Year, $7B Next?
AI agent advertising revenues on two leading social media platforms - Meta and Snap - will top $1 billion this year and will surpass $7 billion next year, according to estimates published this morning by Wall Street equity research firm New Street Research.
Source: MediaPost
US programmatic ad spending set to reach nearly $180 billion by 2025?
The US programmatic digital display advertising sector has experienced remarkable growth, reaching over $135 billion in spending last year and is projected to approach $180 billion by 2025.?
The shift towards programmatic ads, accounting for 90% of all digital display advertising in 2023, is expected to continue, with 75% of programmatic ads projected to be placed through direct channels.?
Despite a slight decline in growth, the programmatic CTV sector is anticipated to rise to over $28 billion by 2025, driven by the expansion of free ad-supported streaming TV and ad-based video-on-demand tiers, such as those introduced by Netflix and Disney+.
Source: InsiderIntelligence?