Connected TV Advertising in the US Expected to Generate $20 Billion in 2024
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The US ad market is projected to experience 5.6% total growth in 2024, with connected TV (CTV) expected to generate $20 billion in ad revenues this year. This represents an 18% growth compared to the previous year. By 2024, CTV is projected to account for 29% of all TV advertising. In contrast, national TV ad revenues are expected to decline by 3.5% in Q1 and 3.2% for the full year. However, the Olympics is expected to provide a boost to TV advertising. Additionally, the introduction of Amazon Prime Video's new ad-supported tier is anticipated to generate significant revenue. The digital advertising sector is expected to grow its share of ad revenues from 64% in 2023 to 76% in 2028. Commerce media is forecasted to double in size over the next five years, while social media is expected to g...
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