Imagine your television transforming from a simple screen into a global hub where over a billion households collectively spent more than a quarter of a trillion dollars last year, fueling an advertising and entertainment revolution that is completely redefining how we watch.
Key Takeaways
- In 2023, the global connected TV (CTV) market size reached $256.5 billion, driven by increased streaming subscriptions and ad-supported models
- The CTV market is projected to grow at a CAGR of 12.4% from 2023 to 2030, reaching $1.2 trillion by 2030 according to Grand View Research
- US CTV households numbered 146 million in 2023, representing 84% penetration, per Nielsen
- 80% of US broadband households subscribe to at least one CTV service in 2023, averaging 5.8 services per household, Nielsen
- Globally, 65% of internet users aged 16-64 watch CTV weekly in 2023, up from 55% in 2022, GlobalWebIndex
- In the US, 45% of CTV viewers are Gen Z (18-24), spending avg 2.5 hours/day, Comscore
- In 2023, CTV ad spend in US reached $20.4 billion, 18% of total TV ads
- Global CTV programmatic ad transactions hit 60% of total CTV ads in 2023, IAB
- FAST channels generated $1.5 billion in US revenue in 2023, up 45% YoY
- US streaming services (CTV) avg 2.1 hours/day per user in 2023, 38% of total TV time, Nielsen
- Globally, Netflix CTV viewing 15% of total streaming hours in 2023, Parrot Analytics
- Live sports on CTV accounted for 25% US viewing peaks in 2023, up 10%
- Smart TV OS market led by Google TV/Android TV at 45% share 2023 shipments
- Roku OS powered 52 million active CTV accounts in Q4 2023
- Amazon Fire TV devices 15% global CTV streaming share 2023
The global CTV market is booming, reaching over $250 billion and expected to hit $1.2 trillion by 2030.
Advertising and Revenue
- In 2023, CTV ad spend in US reached $20.4 billion, 18% of total TV ads
- Global CTV programmatic ad transactions hit 60% of total CTV ads in 2023, IAB
- FAST channels generated $1.5 billion in US revenue in 2023, up 45% YoY
- CTV CPMs averaged $25 in US premium inventory in 2023, 20% above linear TV
- 72% of US marketers plan to increase CTV ad budgets in 2024, from 2023 baseline of $15B spend
- Europe CTV ad market $8.7 billion in 2023, 25% growth, EBU
- Retail media networks captured 15% of US CTV ad dollars in 2023 ($2.1B)
- Shoppable CTV ads clicked at 3.2% rate in pilots 2023, vs 1% standard display
- Global CTV ad fraud losses $1.2 billion in 2023, 12% of spend, Integral Ad Science
- US local CTV ad inventory sold out 85% during holidays 2023
- Addressable CTV ads reached 50 million US households in 2023, up 30%
- CTV brand lift averaged 25% awareness increase in 2023 campaigns, Nielsen
- Asia CTV ad revenue $12.5 billion 2023, led by China $9B
- 40% of CTV ads in LATAM personalized in 2023, boosting ROAS 35%
- UK CTV ad spend £1.8 billion 2023, 22% YoY
- CTV video completion rates 92% vs 78% social video in 2023
- Political CTV ads $2.5B in US 2023 midterms/elections cycle
- Australia CTV ads grew 28% to AUD 1.2B in 2023
- CTV attribution models showed 2.5x higher sales lift vs linear in 2023
- Global CTV SSP revenue $6.8 billion 2023, 30% growth
- Brazil CTV ad market $1.1 billion 2023, 32% YoY
- CTV dynamic ad insertion (DAI) used in 70% US inventory 2023
- Pharma CTV ad spend up 50% to $800M US 2023
- India CTV ads $450M 2023, projected 40% growth 2024
- CTV cross-screen campaigns ROI 3.8x in 2023 studies
- Canada CTV ad revenue CAD 1.5B 2023, 20% up
- 55% CTV advertisers using AI targeting in 2023, lift 18%
- Mexico CTV ads grew 35% to $650M 2023
- CTV household addressability 75% in Europe 2023
- US CTV search ads revenue $900M 2023, 60% growth
- Japan CTV ad spend ¥500B 2023 equiv $3.5B
- CTV sponsorship deals totaled $4B global 2023
- FAST ad revenue share of CTV to 25% by 2027 from 12% 2023
Advertising and Revenue Interpretation
Amidst the whirlwind of growth where CTV ad spending is ballooning globally—with even the stodgy linear TV CPMs looking over their shoulders—and FAST channels are raking in cash, there's a catch: advertisers are gleefully throwing money at this precision-targeted, high-completion-rate future, yet they're also funding a billion-dollar fraud industry and racing to secure sold-out holiday inventory, all while hoping those shiny new shoppable ads prove this isn't just a more expensive way to be ignored.
Content Consumption
- US streaming services (CTV) avg 2.1 hours/day per user in 2023, 38% of total TV time, Nielsen
- Globally, Netflix CTV viewing 15% of total streaming hours in 2023, Parrot Analytics
- Live sports on CTV accounted for 25% US viewing peaks in 2023, up 10%
- Original CTV content demand 40% higher than acquired in 2023 global
- Binge-watching sessions avg 4.2 episodes per sit-down on CTV 2023
- US news consumption on CTV 18% total TV news time 2023
- FAST channels avg 2 hours/week per US user in 2023
- India regional language CTV content 55% of viewing 2023, Ormax
- Global kids content on CTV 12% share, up 20% YoY 2023
- UK drama series on CTV 30% viewing share 2023, BARB
- 35% US CTV time movies vs 65% series/episodics 2023
- China short-form video on CTV 28% daily time 2023
- Europe documentary CTV consumption up 15% to 8% share 2023
- Brazil telenovelas 42% CTV prime time 2023
- Global user-generated CTV content views 5% total 2023
- Australia sports streaming on CTV 22% total sports 2023
- 28% CTV viewing international content global avg 2023
- Canada French-language CTV 65% local preference 2023
- Anime on CTV 15% Asia viewership, 8% global 2023
- US reality TV 18% CTV binge share 2023
- MENA Arabic dubbed content 70% CTV time 2023
- Mexico unscripted 25% CTV growth 2023
- 45 min avg CTV session length global 2023
- Japan idol content 12% CTV youth viewing 2023
- FAST lifestyle channels 10% US FAST time 2023
- Global religious/spiritual CTV 4% share 2023
- France film viewing on CTV 22% total 2023
- 62% CTV users skip ads with 5-sec wait 2023 US
- South Korea K-drama 35% CTV exports demand 2023
Content Consumption Interpretation
While viewers are binging their way through a global buffet of local stories and live sports, the data shows Connected TV is no longer just the guest in our living rooms but has confidently taken over the couch, rewiring how the world watches everything from telenovelas to anime while testing our patience with ads.
Market Size and Growth
- In 2023, the global connected TV (CTV) market size reached $256.5 billion, driven by increased streaming subscriptions and ad-supported models
- The CTV market is projected to grow at a CAGR of 12.4% from 2023 to 2030, reaching $1.2 trillion by 2030 according to Grand View Research
- US CTV households numbered 146 million in 2023, representing 84% penetration, per Nielsen
- CTV revenue in North America hit $27.3 billion in 2023, up 22% YoY, from PwC Global Entertainment & Media Outlook
- Global CTV device shipments reached 250 million units in 2023, growing 8% YoY, per Omdia
- The FAST (Free Ad-Supported Streaming TV) segment within CTV grew to $5.2 billion in global revenue in 2023
- Europe's CTV market valued at €45 billion in 2023, with 15% YoY growth, from Statista
- Asia-Pacific CTV market expected to reach $100 billion by 2027 at 15% CAGR, per MarketsandMarkets
- CTV advertising spend globally projected to hit $40 billion by 2025, up from $25B in 2023, eMarketer
- US CTV market share of total TV viewing time reached 41% in Q4 2023, Nielsen
- Latin America CTV subscribers grew 25% YoY to 120 million in 2023, Ampere Analysis
- Global CTV households to exceed 1.5 billion by 2027, from 1.1B in 2023, per Futuresource Consulting
- CTV software revenue worldwide was $12.8 billion in 2023, growing 18%, Omdia
- India’s CTV market size hit $2.5 billion in 2023, 30% YoY growth, KPMG
- CTV penetration in MENA region reached 55% of TV households in 2023, Deloitte
- Global smart TV market (key CTV component) valued at $238 billion in 2023, Statista
- CTV market in Australia grew 20% to AUD 4.5 billion in 2023, Screen Australia
- Worldwide CTV ad-supported revenue forecasted at $67 billion by 2027, growing 25% CAGR from 2023
- Brazil CTV market expanded 28% YoY to $3.8 billion in 2023, DataReportal
- CTV ecosystem investments by tech giants totaled $15 billion in 2023, CB Insights
- South Korea CTV household penetration at 92% in 2023, with market size $8.2 billion, KISDI
- Global CTV middleware market reached $4.1 billion in 2023, 14% growth, ABI Research
- UK CTV revenue up 16% to £6.7 billion in 2023, BARB
- CTV market in Canada valued at CAD 7.2 billion in 2023, 19% YoY, CRTC
- Projected global CTV users to hit 2.2 billion by 2028 from 1.7B in 2023, Statista
- China CTV market size $85 billion in 2023, 12% growth, CVSC
- CTV gaming integration market grew to $1.8 billion in 2023, Newzoo
- Africa CTV market nascent at $1.2 billion in 2023 but 35% CAGR projected, ITU
- Japan CTV ad spend $4.5 billion in 2023, up 10%, Dentsu
- Overall CTV industry valuation including hardware/software/services at $320 billion globally in 2023, IDC
Market Size and Growth Interpretation
With a current global value nearing the GDP of Finland and a projected trillion-dollar future, the connected TV market is no longer knocking at the door of traditional television but has already moved in, taken over the remote, and is monetizing every moment of our collective attention.
Technology and Devices
- Smart TV OS market led by Google TV/Android TV at 45% share 2023 shipments
- Roku OS powered 52 million active CTV accounts in Q4 2023
- Amazon Fire TV devices 15% global CTV streaming share 2023
- Apple TV 4K sales up 25% to 12 million units 2023
- Samsung Tizen OS 22% smart TV market share 2023
- LG webOS adopted by 40 million CTV sets cumulatively by 2023
- Global CTV 4K penetration 65% new shipments 2023
- Voice assistants in CTV used by 48% US households 2023
- Wi-Fi 6 enabled CTV devices 30% market 2023
- Gaming CTV consoles (e.g., PS5) 18% CTV attach rate 2023
- Hybrid CTV set-top boxes shipped 85 million units 2023
- HDR10+ support in 55% premium CTV panels 2023
- Global CTV average screen size 55 inches in 2023 shipments, up from 52"
- Android TV certification on 1.2 billion devices cumulative 2023
- Energy-efficient CTV models 40% sales EU 2023 due to regs
- Sticks/dongles 25% CTV primary device US 2023
- 8K CTV shipments 2.5 million global 2023, mostly Asia
- Matter smart home integration in CTV 12% new models 2023
- OLED CTV market share 8% premium segment 2023
- Built-in Chromecast 35% smart TVs 2023
- Brazil CTV device market Android dominant 70% 2023
- AV1 codec adoption 45% CTV streaming 2023 efficiency gains
- Multi-view (picture-by-picture) in 20% sports CTV 2023
- India affordable CTV under $200 60% sales 2023
- UK Freeview Play CTV hybrid 28% households 2023
- QLED LCD share 25% global CTV 2023
- Remote control apps on smartphone 55% CTV interaction 2023 US
- Europe DVB-T2 HEVC CTV standard 80% compliance 2023
- Gaming refresh rates 120Hz+ in 40% new CTV 2023
- Cumulative CTV software updates reached 95% devices 2023
Technology and Devices Interpretation
The living room battlefield sees Google's army spread across the map while Roku digs into a loyal fortress, Amazon and Apple sharpen their premium spears, and everyone scrambles to equip their boxes with bigger screens, smarter voices, and faster refresh rates before the next consumer wave crashes in.
User Adoption and Demographics
- 80% of US broadband households subscribe to at least one CTV service in 2023, averaging 5.8 services per household, Nielsen
- Globally, 65% of internet users aged 16-64 watch CTV weekly in 2023, up from 55% in 2022, GlobalWebIndex
- In the US, 45% of CTV viewers are Gen Z (18-24), spending avg 2.5 hours/day, Comscore
- Women represent 52% of CTV users in Europe, with higher adoption in urban areas (78%), Kantar
- India CTV penetration at 45% of TV households in 2023, skewed towards 18-34 urban males, Ormax Media
- 70% of US Hispanics stream CTV daily, vs 55% non-Hispanics, Nielsen
- Globally, 55% of CTV adoption driven by cord-cutters under 35, Deloitte Digital Media Trends
- In Brazil, 62% of CTV users are millennials, avg 3.2 devices per household, DataReportal
- UK CTV weekly reach 85% of adults 16+, with 40% binging 10+ hours/week, BARB
- China CTV users total 650 million in 2023, 75% aged 18-44, CNNIC
- Australia CTV adoption 76% households, higher among families with children (88%), Roy Morgan
- 58% of global CTV viewers are parents, watching family content 60% more, Ampere Analysis
- US rural CTV penetration 72% vs 90% urban in 2023, Pew Research
- In MENA, 68% CTV adoption among 25-44 year olds, females catching up at 48%
- Canada CTV users 92% of population, with seniors (65+) at 65% adoption rate, CRTC
- South Africa CTV household penetration 35%, urban youth (18-24) at 65%
- 67% of Japanese CTV users are over 50, preferring local content, Video Research
- Mexico CTV avg household subs 4.1, 55% dual income families, IAB Mexico
- Europe CTV gender split 51% male/49% female, with higher female adoption in Scandinavia (60%)
- 73% of US African American households use CTV daily, vs 60% white households, Nielsen
- Global avg CTV viewing time per user 25 hours/week in 2023, up 15%, GlobalWebIndex
- Korea CTV penetration 95%, with 82% among low-income households, KISDI
- 49% of CTV new adopters worldwide cited price as key factor in 2023, PwC
- Argentina CTV users 40 million, 70% under 40, 55% female
- France CTV daily users 75% adults, higher in Paris (85%), Mediametrie
- Avg US CTV household has 3.4 streaming apps active in 2023, Hub Entertainment Research
- Nigeria CTV adoption 28% urban, driven by smartphone-to-TV casting, 65% youth
- 62% of global CTV users multi-screen simultaneously in 2023
User Adoption and Demographics Interpretation
Globally, humanity has collectively cut the cord and handed the remote to Gen Z, who are now running a 25-hour-per-week streaming empire from their couches, funded by 5.8 subscriptions per household and mirrored from smartphones worldwide.
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