General Motors is shifting “significant” dollars to advertising on connected TV, says global Chief Marketing Officer Deborah Wahl.
“We think there is enormous potential,” Wahl said during an interview this week at CES. “Just this year, our [connected TV] budgets have increased by 66 percent. It represents a significant portion of our overall media investments.”
Connected TV—which refers to platforms such as Hulu and Roku—is expected to lure more than $10 billion in advertising by 2021, according to an eMarketer forecast. Of course, that is still just a fraction of the $70 billion TV ad marketplace.
But an uptick in investments from a giant spender like GM could move the connected TV needle significantly, especially if other big automakers follow suit. The automaker—whose brands include Chevrolet, Cadillac, Buick and GMC—ranks as the nation’s fifth-largest ad spender at $3.14 billion in 2018, according to the latest figures from the Ad Age Datacenter. Of that total ad spend, 83 percent was shoveled into TV.