On average, advertisers are planning to allocate 40% of their 2023 upfront budgets to connected TV, reports Advertiser Perceptions, based on a survey of 300 U.S. marketer and agency executives conducted in February.
With economic uncertainty making investment flexibility more important than ever, the survey also found buyers reporting that they plan to spend just 49% of their annual video budgets at the upfronts — down from 56% in 2022.
In addition, only 27% expect to increase their upfront spending, versus 51% who reported having increased it last year.
Media companies will apparently have better luck with alternate currencies, however: On average, buyers said that 29% of buys will be transacted using these.
Nearly half cited ROI and return on ad spending as their key focus for the upfront, and many said that they will prioritize media that can demonstrate ROI.