[eMarketer] Streaming services are likely to win bigger share of upfront ad spending
Though traditional TV networks are the primary players in the US upfronts, streaming services will likely emerge as the prime beneficiaries this year.
Upfront CTV ad spending will rise 34.6% to $6.41 billion in the US this year. That alone will mirror what was spent on CTV in its entirety three years ago.
For the first time, CTV will account for more than two-thirds of US upfront digital video advertising spending in 2022. Upfront spending accounts for about one-third of total CTV ad spending.
Total US TV upfront ad spending will be flat at $19.21 billion in 2022-2023.
An April survey by iSpot found that nearly four-fifths of respondents intended to devote upfront dollars to Hulu, while about half planned to spend with Peacock, Roku, and YouTube TV.
eMarketer posits that streamers have taken advantage of their desirable positions to ask for higher CPMs (cost per one thousand viewers) at upfronts this year.
Read the full eMarketer article here
Join the Marketing Report Group on LinkedIn!