There were at least two winners that emerged from the mess that was 2020: connected TV and first-party data, according to new report from the Interactive Advertising Bureau.
CTV outpaced other categories in video ad spending per advertiser for the first time, with average video ad spend per advertiser climbing by 22% compared to 2019, reaching nearly $20 million.
In comparison, mobile video spending rose to $17.6 million in 2020, up only 4% compared to the year prior, and digital desktop video increased 3% to $17.6 million.
“This is a bellwether moment in media that reflects the continued acceleration and shift to digital,” Eric John, VP of IAB Media Center, said in a statement. “While we are seeing growth across all digital video, the movement to more audience-based buying approaches has resulted in increased buyer demand for CTV.”
Advertisers are drawn to connected TV for what they view as premium content and a brand-safe environment, according to the repot. The ability to target audience is also a key benefit, according to 46% of advertisers. Spending increases were driven by auto advertising, consumer packaged goods, retail, and home goods like furniture and appliances, with that category seeing a 105% increase in average CTV spending to $28.9 million.