NEW YORK—While YouTube recently reported slower than expected growth in its ad revenue for Q2 2024, a new survey indicates that many advertisers still have a relatively bullish view of the CTV/OTT ad market. Three out of five advertisers (61%) using CTV/OTT said they will increase spending, with an average increase of 21%, according to a new 2024 CTV/OTT Advertiser Survey released by Advertiser Perceptions and Premion.
The survey reveals increasing investment and optimism in CTV/OTT advertising — with spending increases driven by the ability to achieve full-funnel objectives (41%), reach a highly-engaged opt-in audience (40%), and precision audience targeting (38%). Among those increasing their CTV/OTT ad spend in 2024, a notable 74% are reallocating budgets from digital, social media, or linear TV, while one in four (26%) are tapping into new ad budgets to fuel this growth.
