CTV Report

The CTV Ad Market Will Be Worth $35.2 Billion in 2024

Abstract

  • In 2024, the Connected TV (CTV) ad market is forecasted to reach a value of $35.2 billion for advertisers — around 25% of the size of the traditional linear TV market.
  • CTV ad spending is predicted to increase by 19.6% this year and will make up two-thirds of all growth in video advertising.
  • Netflix was the largest streaming service globally in Q2 2024, with 277.6 million subscribers — a net increase of 8 million from the previous year.

The Connected TV wins just keep coming in 2024. According to new data from WARC, CTV ad spending is expected to grow by nearly 20% this year, reaching $35.2 billion. And while that means CTV is still only about a quarter of the size of the linear TV market, it’s continuing to drive the majority of growth in the video ad space. WARC projects that CTV will account for two-thirds of the combined video ad growth this year — and all of it by 2025. Looking ahead to 2026, CTV’s share of global video ad spending is expected to reach nearly 24%, totaling $46.3 billion. Meanwhile, linear TV isn’t quite keeping pace, with ad spend predicted to rise by just 1.9% this year.

And if CTV is the king of growth, Netflix is its ace. With 277.6 million subscribers worldwide as of Q2 2024 — an increase of 8 million from the year before — Netflix continues to be a leader in the world of streaming. Nearly 45% of new Netflix subscribers are opting for the ad tier, indicating a strong interest in ad-supported content. However, Netflix isn’t banking on ads as a major revenue driver just yet — its ad inventory makes up only 6% of global streaming ads and just 0.6% of total TV ad inventory. Ultimately, as CTV continues to expand rapidly and carve out a bigger piece of the video ad market, it’s clear Netflix is playing the long game.

Connected TV in the News

Addressing Three CTV Ad Challenges
eMarketer

The CTV boom isn’t without its growing pains — advertisers still need to face confusion with fragmentation, unreachable audiences, and problems with campaign measurement.

Consumers Increased Their Time Spent With CTV by 8.3% YoY
MNTN Research

Mobile may still lead the charge when it comes to digital ad spend and time spent, but Connected TV is gaining ground fast.

Amazon Kicks Off Thursday Night Football With Expanded Shoppable Ad Reach
Adweek
Prime Video’s Thursday Night Football is kicking off its third season with new adtech capabilities and some familiar faces.

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