Ad Spending on Connected TV Reached Nearly $19 Billion Last Year, Tubi/Fox Report Says [Next TV]

Ad Spending on Connected TV Reached Nearly $19 Billion Last Year, Tubi/Fox Report Says [Next TV]

BY DANIEL FRANKEL

February 14, 2023 | If the multi-million-dollar commitment for Super Bowl ad time and planned press leaks about demurred-upon sales offers haven’t been enough to convince you over the past few days, take Fox’s latest “The Stream 2023 Audience Insights” report as further evidence that the entertainment company is high on Tubi.

The report (downloadable here) basically serves as a (rather effective) position paper: connected TV streamers reached 240 million in the U.S. last year (up 7%); more folks than ever are thinking about cutting the cord (48%); and nearly one in three streaming consumers (31%) is looking to reduce subscription spending and is turning to free ad-supported entertainment.

Perhaps most notable is Fox’s sizing up of the total connected-TV ad market, which it said grew by 33% last year to $18.9 billion. That’s still a fraction of the $68.4 billion drawn by linear TV last year. Linear kept growing in ad revenue (up 4%) despite losing more large chunks of viewership time to connected TV. Overall streaming usage increased by 21%, according to the study.

Read more on Next TV.
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