LONDON, UK – Streaming video viewing gained massive traction in 2020, especially on connected TV (CTV) devices.
According to the research data analyzed and published by Comprar Acciones, Hulu had the highest CTV ad revenue in 2020, generating $1.96 billion. YouTube was second with $1.5 billion and Roku third with $735.4 million. Cumulatively, the three are projected to hold a 52.6% market share in 2021.
27% of US Cable TV Subscribers Plan to Cut the Cord in 2021
Total US CTV ad revenue rose from $6.38 billion in 2019 to $8.11 billion in 2020. It is projected to increase to $11.36 billion in 2021 and $14.11 billion in 2022.
Hulu’s market share is expected to drop from 24.2% in 2020 to 22.9% in 2021. YouTube will expand its share from 18.5% in 2020 to 19.6% in 2021 and Roku will go from 9.1% to 10.1%. It is estimated that the global video streaming market will grow at an 18.3% compound annual growth rate (CAGR) between 2019 and 2026.
A key reason behind the growth is the growing trend of cord-cutting. According to Trade Desk, 27% of pay TV subscribers in the US plan to cut their subscriptions in 2021.
Streaming now accounts for 68% of TV viewing compared to 28% for traditional TV. According to eMarketer, around 6 million US TV households cut the cord in 2020, driving the total to 31.2 million. By 2021, the number is estimated to reach 46.6 million.
Similarly, the total US TV ad spend similarly plummeted, shedding 15% from $70.59 billion in 2019 to $60 billion in 2020. According to the Interactive Advertising Bureau (IAB), 60% of US advertisers will move ad dollars from linear TV to CTV and OTT in 2021.
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