The advertising industry is turning all eyes to CTV, as the opportunity to reach audiences on connected televisions continues to grow. Our CTV Advertising Report examines the apps and content that are propelling this surge in popularity. The report also provides guidance for brands on CTV Ad engagement.
Throughout the next few weeks, we will explore many of the insights found in the report. First, we start with confirmation of what many in the television industry have assumed for quite a while - almost all households in America are CTV-enabled, and that number continues to climb.
In Q1 of 2020, 80.3% of households in the TVision panel were CTV enabled. Since then, there has been continued quarter-over-quarter growth and now 84.4% of households have the capability to stream TV. Nearly 7 million Americans cut the cord in 2020, and all indications are that this number will continue to grow as Smart TVs become increasingly affordable and streaming applications deliver more and more content.
In the past year, we saw that consumers who were spending more time at home were willing to seek out content on apps beyond the traditional streaming leaders. In Q2 of 2020, the number of apps per household peaked at 7.6. In subsequent quarters, this number dropped slightly - maybe as consumers tested out new apps and settled on their favorites - but notably still remains higher than it was at the start of the pandemic. New entries from established television players with large content libraries, including Discovery+, Peacock, and Paramount+, may have contributed to this growth.
Download the full CTV Advertising Report for more insights.