8- by Wayne Friedman , Yesterday
Advertising on connected TV is poised to nearly double this year -- to $8.2 billion, according to Tru Optik.
The video/data management company says it will climb to'$13.3 billion in 2019 and $20.1 billion in 2020. It was $4.7 billion a year ago.
Ninety-seven percent of those buying targeted connected TV ad campaigns, are using third-party data to direct their ads, with 2% coming from first party data and 1% from retargeting.
Tru Optik estimates the overall over the top (OTT) industry will hit $50 billion in 2020. It says less than a fourth of OTT spending comes from marketers linear TV ad budget; 33% from its digital ad budget. Recent projections are that 62% of marketers plan to increase OTT spending.
According to a number of projections, traditional TV advertising spending totals around $70 billion annually.
A recent estimate from software company SteelHouse said nearly 80% of marketers plan to buy ad inventory on connected TV devices and services in the next 12 months.
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