A few Interesting Facts about CTV that Could be Useful to Know for 2023

With the new year upon us, it's a great time to take a closer look at the current state of connected TV (CTV) and what we can expect in the year ahead. CTV has been growing in popularity for several years, but the pandemic accelerated that growth as more people turned to streaming video services to stay entertained while stuck at home. As we head into 2023, here are some interesting facts about CTV that could be useful to know:

According to eMarketer, the number of US households that use CTV devices is projected to reach 84.5 million in 2023, up from 71.6 million in 2021.

This is a significant increase and shows just how popular CTV has become in a short period of time. As more households adopt CTV devices, there will be an even greater demand for content and advertising opportunities on these platforms.

A report from Innovid found that CTV ad impressions grew by 67% in Q4 2021 compared to the same period in the previous year.

This growth in ad impressions highlights the increasing importance of CTV as an advertising platform. As more advertisers recognize the potential of CTV to reach audiences in a highly targeted and effective way, we can expect to see even more growth in CTV ad spend.

According to a study by Conviva, the average completion rate for CTV ads was 95% in Q4 2021.

This high completion rate is a testament to the engagement of CTV viewers and the effectiveness of CTV advertising. With viewers more engaged and receptive to ads on CTV, advertisers have a valuable opportunity to make an impact with their campaigns.

Conclusion

Overall, these statistics demonstrate the continued growth and importance of CTV as a platform for content and advertising. As we move further into 2023, it's clear that CTV will continue to be a major player in the digital advertising space, and advertisers and publishers alike should be paying close attention to the trends and opportunities that emerge in this dynamic and fast-growing market.