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1、NOV 2022Ross BenesHow Netflix and Disney+Will Help Fuel a$21 Billion FieldUS Connected TV Advertising ForecastPresented byThe gap between connected TV(CTV)and linear TVs ad spending is starting to close.As 2022 comes to an end,we anticipate US advertisers will spend$21.16 billion on CTV this year,a

2、23.0%increase over 2021.This eMarketer report reveals why marketers are pouring their budgets into CTV and what our forecasts will look like by 2026.You will also learn whats impacting viewership shifts,where ad-supported streaming services like Disney+,Netflix,and others stand,and how marketers are

3、 approaching advertising on CTV.Page 2Copyright 2022,Insider Intelligence Inc.All rights reserved.PRESENTED BY:US Connected TV Advertising Forecast:How Netflix and Disney+Will Help Fuel a$21 Billion FieldAs more people cut their cable cords,streaming video keeps gaining viewers and ad dollars.Ad spe

4、nding is still much smaller on CTV than on linear TV,but the gap is closing.3 QUESTIONS THIS REPORT WILL ANSWER1 How much money will advertisers spend on CTV?2 Which companies are receiving the most CTV ad revenues?3 How is CTV viewership changing?WHATS IN THIS REPORT?An examination of trends,data,a

5、nd strategies related to how marketers are approaching CTV.Also,our latest CTV ad spending and viewer forecasts.billions,%change,and%of total media ad spendingUS Connected TV(CTV)Ad Spending,2020-20262020$10.9356.9%4.4%2021$17.2057.4%5.4%2022$21.1623.0%6.1%2023$26.9227.2%7.3%2024$31.7718.0%7.9%2025$

6、37.4517.9%8.5%2026$43.5916.4%9.1%CTV ad spending%change%of total media ad spendingNote:digital advertising that appears on CTV devices;includes display ads that appear onhome screens and in-stream video ads that appear on CTVs from platforms like Hulu,Roku,and YouTube;excludes network-sold inventory

7、 from traditional linear TV and addressable TVadvertisingSource:eMarketer,Oct 2022278741eMarketer|InsiderIKEY STAT:This year,US advertisers will spend$21.16 billion on CTV,an increase of 23.0%over 2021.Contents2 US Connected TV Advertising Forecast:How Netflix and Disney+Will Help Fuel a$21 Billion

8、Field3 The One-Pager4 Key Points4 Sizing Up the Streaming Ad Market8 Netflix and Disney Shake Up CTV Ad Revenue Breakouts12 Streaming Time Spent Keeps Growing13 Editorial and Production ContributorsPage 3Copyright 2022,Insider Intelligence Inc.All rights reserved.PRESENTED BY:US advertisers will spe

9、nd more than$21 billion on CTV in 2022 and$26 billion in 2023.CTV is becoming even more ad-driven.To make the most of CTV campaigns,advertisers should focus on three key strategies.Disney+s and Netflixs ad tiers wont have a dramatic immediate impact.Each service will account for only about 2%to 3%of

10、 all CTV ad dollars next year.Take pains to limit ad frequency.Over targeting audiences,which leads to customers seeing the same ad repeatedly,remains a challenge.CTV can help advertisers reach mass audiences.More than two-thirds of the US population will view digital video on TV screens by the end

11、of this year.Spread your buys across competing services.The number of streamers offering ads is growing,providing advertisers with the opportunity to reach new viewers.Viewers are spending more time with these services.US residents will spend nearly an hour and a half per day viewing subscription OT

12、T services this year.Collaborate with internal teams.The lines between TV and CTV campaigns are blurring;dont operate them in separate silos.Your OpportunityOur FindingsEven more ad dollars are coming to streaming services.Our new CTV ad spending forecast is higher than our previous forecasts as mor

13、e streaming services introduce advertising,and as mid-tier streaming services see more ad growth than expected.US Connected TV Advertising Forecast How Netflix and Disney+Will Help Fuel a$21 Billion FieldKey StatThe One-PagerAlso in this report:New Peacock and Paramount+forecasts|Device breakouts|Ma

14、rket share estimatesThe One-PagerPage 4Copyright 2022,Insider Intelligence Inc.All rights reserved.PRESENTED BY:Key PointsnDespite recession fears,CTV ad spending hasnt slowed.We expect US CTV ad spending to exceed$21 billion this year and$26 billion in 2023.nDisney+and Netflix are both going all-in

15、 on ad-supported streaming services this year.These services will each account for about 3%of all CTV ad dollars in 2023.It will take a few years for their new ad tiers to accumulate substantial market share.nViewership growth has slowed considerably.After reaching two-thirds of the US population,CT

16、V users will increase by just 3.4%in 2022.nPeople keep spending more time streaming.In 2023,US residents will spend more than an hour and a half per day with subscription over-the-top(OTT)services.Pre-pandemic,people spent just under an hour per day watching these services.Sizing Up the Streaming Ad

17、 MarketThe following sections will recap how large the US CTV market is and which companies are making the most money in this area.What Is and Isnt Considered CTV Advertising?CTV is in a unique position:Its literally the connection between television and digital.As such,many firms have slightly diff

18、erent definitions for CTV advertising.Our definition focuses solely on ads delivered digitally to TV sets via their own internal internet capabilities or the external capabilities of connected streaming devices,Blu-ray players,or gaming consoles.Our definition does not include ads delivered to compu

19、ters,phones,tablets,or other non-TV devices,and it does not include network-or broadcaster-sold inventory from traditional linear TV or addressable TV advertising.We also dont include the vast majority of social video ad spending because it largely comes from outstream mobile ads.But does it include

20、 OTT video?OTT is device agnostic and the broadest category of streaming.CTV is a device-specific subset of OTT.Our definition of CTV advertising may include OTTif that video is streamed via a TV set.We define OTT as video thats delivered independently of a traditional pay TV service,regardless of d

21、evice.CTV refers specifically to video watched on a TV set connected to the internet,whether through a peripheral device or directly through a smart TV.We define smart TVs as TV sets that have built-in internet capabilities.A word of caution moving forward:We will also be discussing OTT in this repo

22、rt.OTT and CTV Advertising Wont Slow DownWe expect US subscription OTT video ad spending to near$10 billion and account for 3.4%of all digital ad spendingand 10.2%of total video ad spendingby the end of 2023.This estimate includes streaming ads across all devices.But it is limited to ads that appear

23、 in paid subscription services(like Hulu,HBO Max,and Paramount+).It excludes ads in free streaming services(such as Pluto TV,The Roku Channel,and most YouTube viewing).billions,%change,and%of total video ad spendingUS Subscription Over-the-Top(OTT)Platform AdSpending,2020-20242020$3.478.2%2021$5.235

24、0.8%8.4%2022$6.3020.4%8.2%2023$9.4850.5%10.2%2024$11.1117.2%Subscription OTT platform ad spending%change%of total video ad spendingNote:includes in-stream video such as those appearing before,during,or after digital videocontent on a subscription-based OTT platform(pre-roll,mid-roll,post-roll video

25、ads)andvideo overlays;appears on appears on desktop and laptop computers as well as mobilephones,tablets,and other internet-connected devices for all formats mentionedSource:eMarketer,Oct 2022278722eMarketer|InsiderI10.2%We define OTT as any app or website that provides streaming video content over

26、the internet and bypasses traditional distribution.OTT advertising excludes outstream social video ads.Page 5Copyright 2022,Insider Intelligence Inc.All rights reserved.PRESENTED BY:Our CTV ad spending estimate differs from our subscription OTT estimate in a few ways.Our CTV estimate encompasses all

27、 digital advertising on TV screens,including via free services(like Pluto TV)and platforms that rely on user-generated content(like YouTube and TikTok).That contributes to our CTV estimate being significantly greater than our subscription OTT estimate.Once again,we raised our CTV forecast in our lat

28、est update.We expect US CTV ad spend to exceed$21 billion this year and$26 billion in 2023.billions,%change,and%of total media ad spendingUS Connected TV(CTV)Ad Spending,2020-20262020$10.9356.9%4.4%2021$17.2057.4%5.4%2022$21.1623.0%6.1%2023$26.9227.2%7.3%2024$31.7718.0%7.9%2025$37.4517.9%8.5%2026$43

29、.5916.4%9.1%CTV ad spending%change%of total media ad spendingNote:digital advertising that appears on CTV devices;includes display ads that appear onhome screens and in-stream video ads that appear on CTVs from platforms like Hulu,Roku,and YouTube;excludes network-sold inventory from traditional lin

30、ear TV and addressable TVadvertisingSource:eMarketer,Oct 2022278741eMarketer|InsiderIWe raised our forecast because more streaming services added advertising,and mid-tier streaming services experienced more ad growth than we previously expected.billions,2020-2026How Has Our US Connected TV(CTV)Ad Sp

31、endingForecast Changed?2020$10.93$9.03$9.03$9.03$8.832021$17.20$14.19$14.44$13.41$11.192022$21.16$18.89$19.10$17.44$13.072023$26.92$23.90$24.20$21.37$14.942024$31.77$28.54$29.50$24.76$16.452025$37.45$33.54$34.49$27.472026$43.59$38.83Oct 2022 forecastApril 2022 forecastOct 2021 forecastMarch 2021 for

32、ecastMarch 2020 forecastNote:digital advertising that appears on CTV devices;includes display ads that appear onhome screens and in-stream video ads that appear on CTVs from platforms like Hulu,Roku,and YouTube;excludes network-sold inventory from traditional linear TV and addressable TVadvertisingS

33、ource:eMarketer,Oct 2022278723eMarketer|InsiderINow we expect US CTV ad spending to be 50.0%the size of linear TV ad spending by the end of 2024.While linear TV may still account for significantly more ad dollars than CTV,the latter is rapidly catching up.In our inaugural CTV forecast in 2019,we est

34、imated CTV ad spending to be about one-tenth of linear TV.By the end of 2024,CTV will have gone from one-tenth of TV ad spend to exactly half.Given how embedded TV has been in marketing campaigns for the past six decades,CTVs ability to catch up in ad dollars is impressive.Page 6Copyright 2022,Insid

35、er Intelligence Inc.All rights reserved.PRESENTED BY:billionsCombined US Linear and Connected TV AdSpending,2020-20262020$61.76$10.932021$65.66$17.202022$67.63$21.162023$62.42$26.922024$63.54$31.772025$61.44$37.452026$62.12$43.59$72.69$82.86$88.79$89.34$95.31$98.99$105.71Linear TVCTVNote:linear TV i

36、ncludes broadcast(network,spot,and syndication)and cable TV;excludesdigital;connected TV(CTV)includes digital advertising that appears on CTV devices;examples include display ads that appear on home screens and in-stream video ads thatappear on CTVs from platforms like Hulu,Roku,and YouTube;excludes

37、 network-soldinventory from traditional linear TV and addressable TV advertisingSource:eMarketer,Oct 2022278757eMarketer|InsiderIBy the end of 2024,US advertisers will spend nearly$100 billion on linear TV and CTV combined.In 2024,CTV will account for nearly one-third of combined TV and CTV ad spend

38、ing.Pre-pandemic,CTV accounted for under one-tenth of this spending in 2019.Streaming Viewers Hold SteadyThis year,two-thirds of the US population will watch content on CTV.(We define CTV users as anyone who watches content through an internet-connected TV screen.)Growth in CTV viewership is reflect

39、ive of rampant cord-cutting.By the end of 2023,households that dont pay for TV will outnumber those that do for the first time.There will be 225.7 million CTV viewers in the US this year,leaving little room for growth.US CTV users will grow by only a few percentage points per year over the remainder

40、 of our forecast period.While there isnt a ton of growth in the number of viewers being added,time spent with CTV is expanding.millions,%change,and%of internet usersUS Connected TV Users and Penetration,2019-20262019195.95.6%68.2%2020209.56.9%71.2%2021218.34.2%73.3%2022225.73.4%75.0%2023230.01.9%75.

41、7%2024234.11.8%76.2%2025238.31.8%76.8%2026242.31.7%77.3%Connected TV users%change%of internet usersNote:individuals of any age who use the internet through a connected TV at least once permonthSource:eMarketer,Sep 2022278435eMarketer|InsiderIAbout half of CTV viewers are Gen Zers or millennials.Thes

42、e two generations also boast the largest CTV user growth rates,with Gen Zers set to increase by 5.9%in 2022,and millennials by 3.3%.Gen X CTV user growth will stay flat,and baby boomer users will decline slightly over the next few years.Because Gen Z viewership is growing the most,it is the only gen

43、eration we track whose share of total CTV users will increase,jumping from 22.3%in 2022 to 23.6%in 2026.In other words,the generational makeup of CTV users wont change much in upcoming years.%of totalShare of US Connected TV Users,by Generation,2020-2026Baby boomers(1946-1964)Gen X(1965-1980)Millenn

44、ials(1981-1996)Gen Z(1997-2012)202016.6%24.1%27.4%21.2%202116.2%23.6%27.3%21.7%202215.8%23.1%27.3%22.3%202315.3%22.7%27.2%22.9%202414.8%22.3%27.0%23.5%202514.3%21.8%26.9%23.6%202613.8%21.4%26.6%23.6%Note:individuals of any age who use the internet through a connected TV at least once permonthSource:

45、eMarketer,Sep 2022278436eMarketer|InsiderIPage 7Copyright 2022,Insider Intelligence Inc.All rights reserved.PRESENTED BY:We break out a few other streaming viewership numbers that are related tobut not directly synonymous withCTV.The largest category is OTT viewers,which refers to people who watch s

46、treaming services at least once per month across any device.Because some people stream primarily through phones and computers,there are more OTT viewers than CTV viewers.Like CTV viewership,OTT viewership is massive and will grow by only a few percentage points per year for the foreseeable future.By

47、 2026,nearly three-fourths of the US population will be OTT viewers.We also forecast viewership for subscription OTT services.This is slightly different from total OTT viewership because some streaming services do not require paid subscriptions.But the gap between these categories is small and getti

48、ng smaller.Only 23.7 million US OTT viewers in 2022 did not watch a subscription streaming service;that number will shrink to 20.7 million in 2026.For context,less than one-tenth of OTT viewers watch free services exclusively.Most of them are YouTube viewers.Even though free streaming services are g

49、aining more viewers,most people still subscribe to at least one streamer.Because of this dynamic,subscription OTT viewership follows the same trajectory as overall OTT viewership.millionsUS OTT Video Service Users,by Type,2019-20262019218.5183.483.958.12020229.5208.8109.676.02021236.5213.4129.090.12

50、022241.6217.9140.898.52023245.2222.1154.1105.42024248.8226.4164.3112.72025252.0230.5170.4117.32026255.2234.5174.9120.7OTT Video Service UsersSubscription OTT Video ViewersAVOD ViewersFree PremiumNote:individuals of any age who watch video at least once per month via any app or websitethat provides s

51、treaming video content over the internet and bypasses traditional distribution;examples include Disney+,Hulu,Netflix,and YouTubeSource:eMarketer,Sep 2022278438eMarketer|InsiderIAVOD Viewers Will Continue to GrowA discussion of streaming viewership wouldnt be complete without the inclusion of more ov

52、erlapping acronyms.There are fewer ad-supported video-on-demand(AVOD)viewers than OTT viewers.This gives AVOD more room to add viewers in the short term.Last year,we published our first-ever forecast for AVOD viewers.Our AVOD forecast excludes YouTube and other services,such as Twitch,that rely heav

53、ily on user-generated content.It includes paid subscription services like Hulu and Paramount+,which feature advertising.It also includes free ad-supported services like The Roku Channel,Tubi,Amazon Freevee(formerly IMDb TV),and Pluto TV.This forecast is defined as individuals of any age who watch vi

54、deos at least once per month on an ad-supported platform featuring professionally produced content.US AVOD viewers will increase by 9.1%this year and reach 41.8%of the population.By the end of 2026,AVOD will reach half of the population.AVOD viewer growth will be bolstered by Disney+and Netflix adop

55、ting advertising,which will bring in some viewers who arent already using another ad-supported streaming service.Free premium streaming,aka free ad-supported streaming TV(FAST),is a subset of our AVOD forecast that is limited to free streamers.In some ways,it is has expanded significantly.These serv

56、ices will reach 29.2%of the US population in 2022,up from 9.3%in 2018.This subcategorys growth has been driven by smart TV manufacturers increasingly embedding free ad-driven content that users see as soon as they turn on their TVs,before theyve logged in to any independent apps.Additionally,as more

57、 subscription streamers launch,incumbents have raised their prices to inch closer toward profitability after years of running financial losses.This has happened while extraordinary inflation sets in.As people increase time spent with streaming,free ad-supported options help to offset subscription fa

58、tigue.While this categorys number of viewers has grown significantly,it has tended to receive an abundance of hype.But by the end of 2026,free premium streamers will still reach less than half of all OTT viewers.Operators of these services share viewer numbers but fail to disclose anything about con

59、sumption,largely because time spent with these services is still small.Page 8Copyright 2022,Insider Intelligence Inc.All rights reserved.PRESENTED BY:Most of these free streamers have yet to crack Nielsens gauge of streaming viewership.Pluto TV finally did so in September 2022,registering 1.0%of all

60、 time spent with TV and streaming.Part of the reason why people dont spend much time with ad-reliant streamers is because the user experience is often atrocious.Four-fifths of viewers said they were irritated by seeing the same streaming ads repeatedly,per an October survey conducted by The Harris P

61、oll on behalf of Ad Age.And three-quarters said there were too many ads in streaming services.Between frequency capping issues,glitches,buffering,and fraud,there is a lot about CTV advertising that remains lacking.In some quarters of the marketing industry,there is insistence that FAST and AVOD are

62、entirely separate categories.FASTs claim their products are distinct due to their inclusion of channels that run linear programming 24/7.But this is a misnomer.FASTs like Pluto TV and Tubi let viewers watch movies on-demand.Streamers like Peacock that are built around on-demand content offer channel

63、s with linear programming within their apps.The separation between these categories is blurring.Furthermore,the distinction between FAST and AVOD is lost on the human beings watching their content.For marketers,the relevant issue is that their video ads are reaching young people,regardless of whethe

64、r content is being viewed“live”or on-demand.Smart TVs Are the Preferred Device to Stream VideoStreaming video via TV set has become much easier in recent years.The days of having to run an HDMI cable from your computer to your TV are largely gone.There are numerous ways to watch online video on a TV

65、,with the most common being a smart TV that has built-in internet capabilities.Nearly two-thirds of US CTV viewers use a smart TV.The most popular individual CTV operating system(OS)is Roku,used by just over half of CTV viewers.Amazon Fire TVs market penetration is next,about 6 percentage points beh

66、ind Roku.Through the end of our forecast period in 2026,the use of Roku,Amazon,and Apple TV CTV devices will grow by a few percentage points per year.Streaming via game consoles and Google Chromecast will stay flat.Blu-ray player usage will slightly decline.%of connected TV viewersUS Connected TV Us

67、ers,by Device,2020-2026Smart TVRokuGoogle ChromecastConnected game consoleBlu-ray playerApple TVAmazon Fire TV202060.5%47.8%13.5%34.2%12.2%12.9%40.1%202162.8%51.2%13.2%35.5%11.1%12.9%44.1%202263.7%52.5%12.9%34.5%10.1%12.9%46.0%202364.3%53.1%2.8%34.1%9.3%12.9%47.6%202465.0%53.5%12.6%33.6%8.6%12.9%48.

68、6%202565.2%53.6%12.5%33.1%7.9%12.8%49.3%202665.5%53.6%12.3%32.7%7.3%12.7%49.6%Note:individuals of any age who use the internet through a connected TV at least once permonthSource:eMarketer,Sep 2022278437eMarketer|InsiderIThere is significant overlap in this forecast.Many smart TVs use Rokus and Amaz

69、ons software.In those instances,the TVs are counted in both the smart TV category and the respective companys category.Furthermore,a single household can use numerous devices to access CTV.Thats why our collective penetration rates for CTV devices significantly exceed 100%.Among streaming video view

70、ers,44%have both smart TVs and external CTV devices in their homes,according to an August survey by Hub Entertainment Research.There is a fierce battle to control the streaming interface.Google expanded the licensing of its CTV software,Samsung is pushing to have other TV manufacturers use its OS,an

71、d Comcast is trying to license its streaming software as well.This battle is intense because CTV operators usually get a cut of advertising and subscription revenues that are generated by views on their operating systems.CTV device-makers also receive automated content recognition(ACR)data that trac

72、ks what people watch on internet-enabled TVs.This data is valuable to marketers who use it to measure which programs and ads viewers see.Netflix and Disney Shake Up CTV Ad Revenue BreakoutsWeve significantly revised how we distribute CTV ad revenues by service:We lowered our forecasts for multiple s

73、ervices largely due to macroeconomic factors,and we added forecasts for services that are just now introducing advertising.Page 9Copyright 2022,Insider Intelligence Inc.All rights reserved.PRESENTED BY:Roku is one of the companies for which we lowered our forecast.We now expect Rokus net ad revenues

74、 to reach$3.20 billion in 2024,down from our previous estimate of$3.59 billion.In Q2 2022,Rokus stock took a hit after its earnings missed analyst expectations.In its shareholder letter,Roku cited a“significant slowdown in TV advertising spend due to the macroeconomic environment.”It also mentioned

75、a weak scatter market as one cause of its lowered revenue guidance.We also reduced our estimate for YouTubes US CTV gross ad revenues in 2024 from$8.83 billion to$7.68 billion.YouTubes CTV net ad revenues in 2024 were cut from$4.28 billion to$3.73 billion.Note:The difference between net and gross ad

76、 revenues is significant for YouTube.Creators in its Partner Program keep 55%of the revenues from ads sold against their content,while YouTube keeps the other 45%.YouTubes ad revenue outlook was hampered by competition from social video services like TikTok.In Q3 2022,YouTube reported a decline in a

77、d revenues for the first time,stating that it“reflects further pullbacks in advertiser spend.”Rokus and YouTubes earnings indicate that macroeconomic issuesincluding supply chain problems,rising interest rates,recession fears,international war,and moreare affecting the broader TV and streaming ad ma

78、rketplaces.Here are some other indications of issues with the overall ad market:n National TV ad spending was down 7%year-over-year(YoY)in August and 30%in July,per Standard Media Index.n Automotive TV ad spending declined 23%in June,according to iSpot.TV.n In September,advertisers cut upfront commi

79、tments by 10%to 20%,Digiday reported.We also lowered our forecast for Hulus net ad revenues in 2024 from$6.16 billion to$4.84 billion.By the end of 2023,the combined net ad revenues of Hulu,YouTube,and Roku will account for about a third of all US CTV ad revenuesa decline of approximately 11 percent

80、age points from pre-pandemic 2019 levels.%of total CTV ad spendingUS Connected TV(CTV)Ad Spending Share,byCompany,2020-2024OtherPeacockParamount+NetflixDisney+TubiPluto TVRokuYouTubeHulu202045.9%0.5%0.0%0.0%0.0%1.9%3.5%7.6%14.3%19.8%202143.6%1.6%1.0%0.0%0.0%2.7%4.2%9.5%14.1%17.6%202244.2%3.2%1.3%0.0

81、%0.0%2.9%4.1%10.1%13.3%15.5%202342.1%3.0%1.5%2.5%3.1%2.7%4.1%9.5%11.7%13.8%202441.2%3.1%1.7%2.6%3.1%2.8%4.4%10.1%11.7%13.4%Note:digital advertising that appears on CTV devices;includes display ads that appear onhome screens and in-stream video ads that appear on CTVs from platforms like Hulu,Roku,an

82、d YouTube;excludes network-sold inventory from traditional linear TV and addressable TVadvertising;net ad revenues after companies pay trafc acquisition costs(TAC)to partnersites;numbers may not add up to 100%due to roundingSource:eMarketer,Oct 2022278724eMarketer|InsiderIThese companies ad revenues

83、 have grown,but their share has shrunk because the broader market expanded at a greater rate as more services adopted ads.New Forecasts Reflect the CTV Ad Markets ExpansionNetflix and Disney+are the most notable services to adopt ads recently.We expect Netflixs US CTV ad revenues to reach$666.5 mill

84、ion in 2023 and$823.1 million in 2024.Netflix will account for about 2%of US CTV ad spending over the next two years.It will take some time before a sizeable chunk of Netflixs users move to its ad tier.Netflix has enormous future potential ad revenues,but it will take a few years before its ad busin

85、ess rivals Rokus or Hulus domestically.Across all devices,Netflixs US OTT ad revenues will be$833.1 million in 2023 and$1.02 billion in 2024.Our expectation that 80%of Netflixs ad revenues will come through CTV is typical.Three-fourths of time spent streaming globally happens on TV screens,according

86、 to Q1 2022 data from Conviva.Advertisers also tend to pay a premium to advertise on larger screens,like TV sets,more than they do on smaller screens,like phones.Page 10Copyright 2022,Insider Intelligence Inc.All rights reserved.PRESENTED BY:millionsUS Netflix Ad Revenues,by Device,2023&20242023$666

87、.5$166.62024$823.1$200.6$833.1$1,023.7Connected TV(CTV)Desktop/laptop and mobileNote:includes in-stream video such as those appearing before,during,or after digital videocontent on a subscription-based OTT platform(pre-roll,mid-roll,post-roll video ads)andvideo overlays;appears on desktop and laptop

88、 computers as well as mobile phones,tablets,and other internet-connected devices for all formats mentionedSource:eMarketer,Oct 2022278725eMarketer|InsiderIWe expect Disney+s US CTV ad revenues to initially be similar to Netflixs and reach about$1 billion by the end of 2024.Although time spent on Net

89、flix dwarfs that on Disney+,The Walt Disney Co.has long been a TV advertising stalwart.Its streaming service can lean on company resources as its ad product gets built out.Ads will appear on Disney+on December 8,a month after they went live on Netflix.millionsUS Disney+Ad Revenues,by Device,2023&202

90、42023$835.0$185.82024$977.7$214.7$1,020.8$1,192.3Connected TV(CTV)Desktop/laptop and mobileNote:includes in-stream video such as those appearing before,during,or after digital videocontent on a subscription-based OTT platform(pre-roll,mid-roll,post-roll video ads)andvideo overlays;appears on desktop

91、 and laptop computers as well as mobile phones,tablets,and other internet-connected devices for all formats mentionedSource:eMarketer,Oct 2022278726eMarketer|InsiderIAmong the services we measure,Paramount+is the smallest advertising player with 2023 US CTV ad revenues projected at about$400 million

92、.Paramount+s ad revenues are growing strongly on a percentage basis.But the base is small enough that the total amounts dont rival those of Pluto TV,which is owned by the same company,Paramount Global.Pluto TVs CTV ad revenues will exceed$1 billion in 2023.While they share an owner,there are a few d

93、ifferences between these streamers:Pluto TV is a free service,while Paramount+is a paid subscription service.Pluto is entirely ad supported,whereas about one-third of Paramount+viewers pay for the more expensive tier to avoid ads,per March 2022 research from S&P Global Market Intelligence.Being free

94、 allows Pluto to reach more people than Paramount+can.And commercials always being included helps Plutos ad revenues exceed those of its corporate sibling.billions,%change,and%of total video ad spendingUS Paramount+Ad Revenues,2021-20242021$203.80.5%2022$330.662.2%0.6%2023$476.044.0%0.8%2024$647.436

95、.0%0.9%Paramount+ad revenues%change%of total video ad spendingNote:includes in-stream video such as those appearing before,during or after digital videocontent on Paramount+(pre-roll,mid-roll,post-roll video ads)and video overlays;appearson desktop and laptop computers as well as mobile phones,table

96、ts,and other internet-connected devices for all formats mentionedSource:eMarketer,Oct 2022278728eMarketer|InsiderIWe expect Peacocks total US ad revenues to surpass$1 billion next year.The majority of Peacocks inventory is sold upfront.More than half of advertisers surveyed said they were allocating

97、 upfront dollars to Peacock,per April 2022 data from iSpot.TV.(iSpot.TV is one of the alternative measurement services NBCUniversal uses.)Page 11Copyright 2022,Insider Intelligence Inc.All rights reserved.PRESENTED BY:In June 2022,NBCUPeacocks parent companyannounced that Peacocks upfront commitment

98、s topped$1 billion.A single upfront cycle can stretch across two calendar years,so upfront dollars from this cycle will go toward 2022 and 2023.Upfront commitments also dont necessarily result in actual ad spending,as advertisers tend to renege a portion of their commitments.millions,%change,and%of

99、total video ad spendingUS Peacock Ad Revenues,2020-20242020$76.70.2%2021$350.1356.5%0.8%2022$884.7152.7%1.7%2023$1,047.118.4%1.7%2024$1,298.424.0%1.9%Peacock ad revenues%change%of total video ad spendingNote:includes in-stream video such as those appearing before,during,or after digital videocontent

100、 on Peacock(pre-roll,mid-roll,post-roll video ads)and video overlays;appears ondesktop and laptop computers as well as mobile phones,tablets,and other internet-connected devices for all formats mentionedSource:eMarketer,Oct 2022278727eMarketer|InsiderIPeacock benefits from being owned by NBCUone of

101、the largest ad sellers in TV advertisingbecause NBCU can package streaming ads into its deals.Other streamers owned by media companies with TV stations can do the same.Fox-owned Tubi is on pace to reach about$900 million in CTV ad revenues by 2024.Peacock,Tubi,Paramount+,and Pluto TV each account fo

102、r no more than 2%of time spent watching CTV,according to March 2022 data from Comscore.But these streamersowned by NBCU,Fox,and Paramounthave become billion-dollar ad businesses.In isolation,the ad revenues appear inflated for the viewership these services receive.But when package deals with their T

103、V counterparts are factored in,the stated ad dollars make more sense.The nine services(net YouTube,Hulu,Roku,Pluto TV,Tubi,Netflix,Disney+,Paramount+,and Peacock)for which we forecast CTV ad revenues will account for about half the market in 2023.There are a few significant pieces within the“other”h

104、alf of the market.How“Other”Companies Factor Into Our ForecastAmazon:We dont have a CTV advertising forecast for Amazon,but we believe the company is a major player in this field.Like Roku,Amazon monetizes viewing time on its Fire TV devices by selling a portion(usually 30%)of other publishers inven

105、tory.It also sells inventory on its free ad-driven streamer Freevee.Prime Video is technically ad-free,but ad-supported Freevee shows have been blended into the Prime Video interface in a delicate way that many viewers may fail to detect,especially if theyre viewing it on a Fire TV.Prime Videos live

106、 sports broadcasts,which include select New York Yankees games and NFL Thursday Night Football games,also feature ads.Further,Amazon earns CTV-related revenues through fees associated with ad tech products like its demand-side platform(DSP).Warner Bros.Discovery:The company plans to combine HBO Max

107、and Discovery+next year.We hope to forecast this services ad revenues after the consolidation.YouTube Partners:Because creator partners keep over half the ad revenues their YouTube videos generate,the difference between gross and net US ad revenues will be nearly$4 billion in 2024.Ad tech fees:About

108、 three-fourths of CTV ad spending transacts programmatically.On a gross basis,YouTube accounts for just under half of our programmatic CTV estimate.Ad tech fees from YouTube ad buys are already factored into our YouTube estimate.But ad tech fees generated by the non-YouTube half of programmatic CTV

109、belong to the“other”portion of the market.In Q2 2022,ad tech company Magnite reported that CTV accounted for 42%of its business.That same quarter,DSP platform The Trade Desk stated that video,including CTV,represented about 40%of its revenues.Virtual cable services:Our CTV forecast includes the 2 mi

110、nutes per hour that services like fuboTV and Sling TV sell.To avoid counting ad dollars twice,these services remaining ads,which are sold by TV networks,are included in our linear TV forecast.Ad revenues for YouTube TV and Hulu+Live TV are already included in our YouTube and Hulu forecasts.Thus,only

111、 a portion of virtual cable ad revenues go to our“other”CTV category.Page 12Copyright 2022,Insider Intelligence Inc.All rights reserved.PRESENTED BY:TV manufacturers:A few TV-makers are building ad businesses using a similar playbook to Roku and Fire TV.Consultancy TVREV estimated that Samsung,LG,an

112、d Vizio could have combined ad revenues of$6.17 billion by the end of 2026.Social video:TikTok is primarily viewed on phones,but the company is hiring CTV roles and could become a bigger player in this area.Retail media:Retailers like Walmart are partnering with CTV companies.Advertisers are testing

113、 shoppable streaming ads.Kroger added CTV display inventory to its ad network.Long tail:There are hundreds of streaming services,many of which are ad-supported.The dozen most watched services account for about 90%of time spent streaming,per Comscore.The remainder represent a small portion of our ad

114、spending forecast.Streaming Time Spent Keeps GrowingThe explosive growth in CTV advertising has been fueled in part by people spending more time streaming video.While the number of new people coming into streaming each year isnt that large,growth in time spent is.Many casual viewers are becoming mod

115、erate viewers,and moderate viewers are becoming heavy viewers.A similar dynamic has unfolded in podcasting in recent years.We dont forecast time spent with CTV,but we have a few proxy metrics.Pre-pandemic,US residents spent just under 1 hour per day viewing subscription OTT video.With quarantines in

116、 place and travel restricted,streaming surged in 2020 and 2021.As pandemic restrictions lifted and economic activity opened up,growth in time spent with streaming slowed,but it did not decline.By the end of 2022,time spent with subscription OTT video will grow another 6.8%.This year,US residents wil

117、l spend an average of nearly an hour and a half per day with subscription OTT.This figure encompasses the whole adult population,including millions of people who dont stream at all.Among OTT users specifically,time spent surpassed 2 hours per day in 2021 and will increase another 4.1%in 2022.hrs:min

118、s,%change,and%of total time spent with TVand videoUS Average Time Spent per Day with SubscriptionOTT Video Services,2019-202420190:5419.7%16.8%20201:1336.7%20.5%20211:2210.7%23.2%20221:2720231:315.4%20241:354.7%Average time spent%change%of total time spent with TV and videoNote:ages 18+;includes all

119、 time watching video on subscription OTT platforms via anydeviceSource:eMarketer,April 2022278439eMarketer|InsiderI6.8%24.9%26.5%28.0%Our time spent figures include multitasking.Time spent with subscription OTT is about half of time spent per day with TV,which will exceed 3 hours per day in 2022.Whi

120、le time spent with TV is still greater than time spent streaming,the figures are moving in opposite directions as TV falls and streaming keeps making gains.In fact,time spent streaming surpassed time spent with cable TV this July for the first time,per an August report by Nielsen.But streaming time

121、still significantly trailed time on broadcast and cable TV combined.Another proxy metric is our“other connected device”forecast.It excludes time spent with mobile and computer screens,but includes CTVs,game consoles,and other miscellaneous devices connected to the internet.Time spent with other conn

122、ected devices follows a similar pattern as time spent with subscription OTT,with a boom in 2020 followed by a slowdown.By the end of 2024,time spent watching digital video on other connected devices will surpass 90 minutes per day.Page 13Copyright 2022,Insider Intelligence Inc.All rights reserved.PR

123、ESENTED BY:minutesUS Average Time Spent per Day with Digital Video,by Device,2019-2024422347111492669144522675153542682161562587168572591173MobileDesktop/laptopOtherTotalNote:ages 18+;includes all time spent with online video activities,regardless of multitasking;includes viewing via desktop/laptop

124、computers,mobile(smartphones and tablets),and otherconnected devices(game consoles,connected TVs or OTT devices)Source:eMarketer,April 2022278441eMarketer|InsiderI201920202021202220232024We also have time spent forecasts for the five most watched streaming services.Netflix and YouTube top the list.U

125、S adults will spend more than 30 minutes per day on Netflix and YouTube each in 2022.Hulu and Disney+will combine for a half-hour per day this year,and Amazon Prime Video will stay steady at 11 minutes per day.minutesUS Average Time Spent per Day with SubscriptionOTT Video,by Platform,2019-202420192

126、6251372020322818952021323021106202233312311720233432251182024343226119NetflixYouTubeHuluAmazon PrimeDisney+Note:ages 18+;includes all time watching video on subscription OTT platforms via anydeviceSource:eMarketer,April 2022278440eMarketer|InsiderIKeep in mind that the ability to translate time spen

127、t into ad revenues varies for each company.Most Hulu and YouTube viewers see ads constantly.On the other hand,most Prime Video and Netflix users arent yet exposed to much advertising on their services.There may be a correlation between having a large number of users and a successful ad business.But

128、when marketers construct a media plan,its important to consider the maturity and user adoption of each services ad product.Editorial and Production ContributorsAnam Baig Director,Report EditingRahul Chadha Director,Report EditingMatthew Corkins Copy EditorJustin DeVoursney Graphic DesignerJoanne DiC

129、amillo Senior Production ArtistMagenta Fox Senior Chart EditorDonte Gibson Senior Chart EditorKatie Hamblin Director,ChartsDana Hill Director,ProductionErika Huber Line EditorAnn Marie Kerwin Vice President,ContentKyndall Krist Copy EditorNa Li Director,Primary ResearchPenelope Lin Senior Copy Edito

130、rJennifer Merritt Executive EditorStephanie Meyer Product SpecialistHeather Price Senior Director,Managing EditorErika Skorstad Copy EditorRachel Tatarek Senior Copy EditorAmanda Woodman Copy EditorJulia Woolever Senior Report EditorAli Young Senior Copy EditorDO YOU KNOW WHERE YOUR CTV ADS ARE RUNN

131、ING?Were all excited about the growth of Connected TV advertising.But some of us arent as excited about the lack of transparency about where a brands ads actually appear.At Pixability were changing that to help advertisers better understand where to find suitable content for their brand.Welcome to t

132、he next phase of Contextual Targeting on CTV.For more information click here or email us at:Page 15Your account team is here to help.Contact or 1-866-345-3864 for answers to any research-and account-related questions.To learn about advertising and sponsorship opportunities,contact .We are here to he

133、lp.If you are an eMarketer research client and have questions,please contact ii-.If you are not a research subscriber,please send inquiries to ii-.To learn about advertising and sponsorship opportunities,contact .Power your next move with clear and credible insights.Learn more about video and TV adv

134、ertising trendsFor more coverage,visit our website.Get the bigger pictureOur research is trusted by industry leaders.Over 100,000 business decision-makers,including many of the Fortune 1000 and most major media companies and agencies,subscribe to Insider Intelligence research.Learn if your company subscribes.Stay informed with daily newslettersKeep up with timely digital trends delivered straight to your inbox.Learn MoreCopyright 2022,Insider Intelligence Inc.All rights reserved.