For the first time, digital video - which includes CTV, social video and online video - will claim a higher share of budgets than linear TV.
CTV and other digital video formats are gaining on linear TV, with projections for 2024 showing increased spend on digital video compared to linear TV.
CTV is expected to reach $22.7 billion, with marketers reallocating budgets from linear TV, non-video digital ads, traditional ads, social media platforms, and other digital/mobile video.
CPG and retail sectors are driving the growth in CTV investment, with CPG expected to grow by 20% and retail by 30%.
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