The world of television & video consumption has witnessed a dramatic shift, with Connected TV (CTV) emerging as a force to be reckoned with. As technology advances & consumer preferences evolve, CTV has become the go-to choice for an increasing number of viewers. But, what is CTV & what kind of success has this service seen?
What is Connected TV (CTV)?
Connected TV refers to TVs or devices that are connected to the internet, allowing users to access content through streaming services like Netflix, Hulu, Peacock, & more. Unlike traditional TV broadcasting, CTV allows viewers to consume content on-demand, providing them with greater control over what, when, & how they watch.
Soaring CTV Users
The number of CTV users has seen a surge in recent years. People are reducing their traditional cable & satellite subscriptions in favor of CTV devices for the convenience value & personalized viewing experiences. This trend has been accelerated by advancements in technology, making CTV accessible to a broader audience.
Increase in Minutes Spent
There has been a significant increase in the time users spend watching content on CTV. Adults will spend more than 7.5 hours on CTV per day in the US this year, which is up an hour from 2020. The convenience of on-demand streaming has contributed to longer viewing sessions, boosting user engagement significantly. Additionally, over 50% of view time will take place on mobile devices.
Personalized Viewing Experience
One of the standout features of CTV is its ability to offer a personalized viewing experience. Unlike traditional TV, CTV platforms use algorithms & user data to recommend content tailored to individual preferences. This personalization fosters a deeper connection with viewers & keeps them coming back for more.
Connected TV has disrupted the television landscape & revolutionized how viewers consume content. With a rapidly growing user base & an increasing number of minutes spent on the platform, CTV has become a huge player in the media industry. For businesses & advertisers, the rise of CTV presents an opportunity to tap into a highly engaged & targeted audience. As technology continues to advance, we can expect CTV to continue its upward trajectory & reshape the future of entertainment & advertising.