Back view of a couple watching TV on sofa in the living room. Man is changing channels.
The TV Advertising Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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https://www.thebusinessresearchcompany.com/report/tv-advertising-global-market-report
According to The Business Research Company’s TV Advertising Global Market Report 2024, The tv advertising market size has grown strongly in recent years. It will grow from $129.61 billion in 2023 to $137.9 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to mass reach and audience engagement, effectiveness in brand building, prime time programming, credibility and trust, traditional advertising dominance.
The tv advertising market size is expected to see strong growth in the next few years. It will grow to $172.27 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to cross-channel integration and omnichannel campaigns, targeted advertising capabilities, data analytics for ad performance, interactive and shoppable ad formats, adaptation to changing viewer habits. Major trends in the forecast period include innovations in ad formats and creatives, data privacy compliance in targeted advertising, localization and regional targeting strategies, rise of branded content and sponsorships, real-time ad campaign adjustments.
The increased use of over-the-top (OTT) media services is expected to drive the growth of the TV advertising market. OTT offers reach and retention as the video advertisement is 100% viewable and non-skippable. For instance, on OTT platforms such as Netflix, Amazon Prime Video, and Disney+, advertisements are non-skippable and are 100% viewed by the subscriber. These advertisements are known as Subscription-Supported Video-on-Demand Services. An increase is expected in the forecast period, culminating in the $2.373 billion projected OTT ad spending in 2025, indicating that advertising on streaming services is rapidly expanding. Thus, the increased use of over-the-top (OTT) media services is driving the market for TV advertising.
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The tv advertising market covered in this report is segmented –
1) By Service Type: Terrestrial, Multichannel, Online
2) By delivery platform: Cable Television, Satellite Television
3) By Broadcasting services: Advertisement, Subscription
4) By Time slot: 20 seconds, 60 seconds, More than 60 seconds
Programmatic TV advertising is becoming increasingly popular in the TV advertising market. Programmatic advertising is the process of purchasing digital advertisements automatically by leveraging algorithms and machines. It eliminates human intervention in the advertisement purchasing process, making it quick and less expensive. With the help of programmatic advertising, an organization can publish as many ads as a company wants on as many platforms as they desire. Also, it addresses the requirement for expanded reach of ads as utilization patterns have changed among crowds. Programmatic advertising is associated with programmatic TV sets, which allow the audience to watch OTT platforms on TV. For instance, when a person is watching a movie or show on a programmatic TV set, an ad appears in the video player itself. These ads are called in-stream ads and can run as many times as an organizer wants, thus causing an increase in reach towards the target audience.
The tv advertising market report table of contents includes:
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