Rising ad spending for TV and streaming is not just coming from linear TV, but also digital and social media, according to a new survey by Advertiser Perceptions and Premion, Tegna’s over-the-top (OTT) advertising-selling unit.
Research says 66% are shifting budgets from digital, social media and linear TV coffers to fund connected TV (CTV)/streaming spending. At the same time, another 30% coming from overall increase in advertising budgets.
Overall, linear TV is expected to take the biggest hit with 48% of its budgets affected by shifts to CTV.
Nineteen percent of digital video (non-CTV/OTT) will be affected, with display also at 19%, social media at 15%, and paid search at 11%.
Just over half (53%) of those polled in the survey said they will raise CTV/OTT advertising budgets this year versus 2021 -- with an average overall increase for this year at 22%. Forty-four percent say their CTV budgets will remain the same, while 3% say they will lower CTV advertising budgets.
For example, just 16% of respondents said linear TV ad spending will rise an average 21%, with 63% saying their linear TV budgets will remain the same for 2022.
Research came from an anonymous March 2022 online survey among 151 ad agency or brand-side marketers. Connected TV and OTT advertising use was required for both 2021 and 2022, spending a minimum of $250,000 annually on advertising.