Study finds open programmatic CTV ad spend slows for the first time in years
Some CTV ad spending might be facing slowing growth since rising throughout the pandemic — but agencies are expecting it to bounce back later in the year.
Analytics platform Pixalate’s Q1 report on connected TV released yesterday is showing that open programmatic CTV ad spend has declined 5% year over year — marking the first slowdown since 2019 when the company began tracking it. This year, the global spending in Q1 reached $3.2 billion, down from $3.3 billion in Q1 2022 after growing in 2020 and 2021.
Agencies are adjusting some of their programmatic CTV budgets to be flat or slightly down at this time, but it’s due more to greater economic uncertainty rather than “any big strategic shift,” explained Rob Davis, president and CMO of Novus. “Generally, we remain bullish on CTV, and its budget allocation relative to other forms of video or linear TV comes down to individual brand objectives more than any blanket approach to the medium.”
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Source:: Digiday
