More than 3,000 brands from nearly 1,400 companies
spent more than $369 million on ad-supported streamers in this year's first quarter, according to an analysis by advertising intelligence platform MediaRadar.
The study is based on reviews of
advertising across multiple ad-supported streaming platforms, including the ad-supported tiers of Hulu, Peacock and HBO Max. Standalone streaming services were sampled from ad-supported streaming
packages across a panel of 2 million people in the U.S.
Ad spending routinely dips in Q1, after heavy holiday spending in Q4, but the Q1 2022 streaming spend was down by a modest 6% from Q4
2021’s $395 million, according to the analysis.
Q1’s spend was also 5% higher than Q3 2021’s $353 million.
About a quarter of the streaming service advertisers during
this year’s first quarter did not advertise on those platforms during 2021.
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“As we come out of the pandemic and this form of media stabilizes, it isn’t surprising advertisers
are testing advertising on OTT platforms,” observes MediaRadar CEO and co-founder Todd Krizelman. “It’s a great place for advertisers to stand out and not have their message
lost.”
On the other hand, 72%
(2,600) of the 3,600 companies that purchased OTT ads in 2021 had not yet advertised on the platforms by the end of Q1 2022. In 2021, those advertisers spent a combined $86 million.
The
top five spenders in Q1 2022 were Berkshire Hathaway, Capital One, Microsoft, State Farm and Verizon. They accounted for more than $49 million, or 13%, of total OTT spend in the quarter.