Advertising spend on CTV during a one-month span reached $1 billion in June, according to data from Vivvix, an ad intelligence provider leading in competitive advertising data across digital and traditional media. This industry milestone, on track with projections from Vivvixs first half 2023 report, demonstrates that more brands are recognizing the value and potential of advertising on the medium. This is the deepest level of detail on CTV ad spend available in the industry.
The Vivvix data includes advertising dollars spent by thousands of advertisers across a growing list of streaming platforms including Hulu, Peacock, Paramount+, Pluto, Discovery+, Max (formerly HBOMax), Tubi, Roku, and as of May of this year, Disney+. It also shows the trends by category, with verticals such as household supplies and beverages growing by more than 300% on a year-over-year basis on CTV. At the same time, other categories such as Pets and Cosmetics and Beauty did not trend as highly in the June report.
This milestone validates the projections on CTVs ascendency from experimental to a table stakes medium, said Andrew Feigenson, CEO of Vivvix. Its where viewers are increasingly spending their time, and in order to be competitive, brands must play ball on those fields, and understand what competitors are doing on these platforms. The data really informs brands where the white space is within the video journey as well. We noticed, for example, a dearth of pet brands advertising on Disney+ in June. That signals a real opportunity.
Being able to take a broader view of the video landscape helps advertisers see the strategy their competitors are using across various channels, Feigenson added. The shift of ad dollars between new and emerging platforms can make it difficult for advertisers to connect the dots, so its important for brands to have access to a wider lens. We are confident that more brands will continue to allocate more of their advertising budgets to CTV and other digital media, which will affect traditional TV advertising.
The $1 billion per month milestone in CTV is a big trend at a time when digital formats comprise 70% of the total spend in which video is the fastest growing format. In Vivvixs first half Platform Pandemonium report, the companys analysis showed that ad supported video on demand (AVOD) grew 79% YOY in 2022 and totalled 5% of all online video.
In addition to CTV, another area of growth in the digital ecosystem is YouTube, which continues to captivate advertisers and audiences. In June alone, Vivvix captured $1.4 billion in ad spend across YouTube properties. Looking ahead, Vivvix anticipates that advertiser investment on YouTube will continue to grow, especially as non-linear properties continue to capture more viewership.
To give brands the deepest, richest and fullest picture of advertising spend, Vivvix is purpose-built to look across the full spectrum of ad platforms, from linear to digital, Feigenson said. We are continually investing in expanding our coverage across all digital media, including CTV, and social video like YouTube. Vivvix gives advertisers a view into more than $162 billion worth of digital ad spend which translates to a deep level of competitor ad campaign visibility.
Vivvix delivers winning clarity to brand marketers, advertising agencies, and media owners by providing a greater understanding of their competitive landscape, which empowers clients to effectively invest their advertising budgets and gain market share from their competition. Formed in 2023 by unifying the businesses of Kantar and Numerator, Vivvix offers the most comprehensive advertising intelligence footprint available, including the largest creative library and estimates of advertising market shares across media types. Vivvix is a part of the Kantar Group. For more information about Vivvix, visit https://www.vivvix.com.
Kite Hill PR for Vivvix
View source version on newsdirect.com: https://newsdirect.com/news/brands-hit-1b-milestone-in-monthly-ad-spend-on-ctv-advertising-in-june-vivvix-622792390
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Gio News UK journalist was involved in the writing and production of this article.