Although it will have a 36% share of total video time spent, connected TV (CTV) will take only 18% of total video ad dollars in 2022 and is estimated to reach $21.2 billion by year's end, per anew Interactive Advertising Bureau video advertising report done in conjunction with Standard Media Index and Advertiser Perceptions.
Data estimates were calculated when including all CTV, linear TV, social and short-form video ad spending.
The report estimates average time spent per day in 2022 for CTV to be 1 hour/44 minutes, with linear TV at 3 hours/2 minutes, according to eMarketer January 2022 data.
While CTV will have a 18% share of total video ad spend in 2022, linear TV will come in at 57% and all other digital video will have a 25% share, according to Standard Media Index. The data for the report is based on the "SMI Pool," which includes "forward bookings."
Advertiser Perceptions interviewed 406 executives who spent at least $1 million on advertising in 2021, in a 15-minute anonymous interview during the period from February 15, 2022 to March 15, 2022.
SMI captures between 70% and 95% of all media agency spend, with data coming from raw billing records of all media transactions. This includes television, digital, out-of-home, print, and radio.
Advertiser Perceptions is a research and intelligence firm for advertising, marketing and ad-tech businesses.
Overall, digital video advertising spend is expected to grow 26% to $49.2 billion in 2022, compared to the year before. This comprises social media video (non-CTV), which is estimated to be 26% higher to $5.9 billion; CTV, up 39% (to $21.1 billion); and all other media, up 16% to $22.1 billion.
The IAB survey says 73% of buyers are expected to shift their media spend from linear TV to support their increase in CTV and OTT ad spend.
When asked what transaction methods buyers used to purchase CTV advertising in the past 12 months, 63% cited publisher direct buys through a sales rep, while 61% cited programmatic direct via private marketplace deals and 38% cited publisher direct, self-serve deals.
Types of data that CTV buyers used to make deals include first-party brand data (65%); location data (61%); first-party publisher data (60%); video context data (53%); and shopping data (50%).