CTV Report
The CTV Ad Market Will Be Worth $35.2 Billion in 2024
by Frankie Karrer2 min read
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.
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