The TV ad spending market is estimated to be valued at US$ 130.22 Bn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
The TV ad spending market consists of companies that sell advertising space on television networks, streaming services, and video platforms. Major products in this market include traditional TV commercials, online video ads, branded content integrations, and sponsorships. With the rise of streaming giants like Netflix, Hulu, and Amazon Prime Video, many consumers are moving away from traditional cable and satellite TV packages. This has prompted companies to shift their television ad budgets towards online platforms to reach these cord-cutting consumers.

Market Dynamics:
Increased demand for online streaming services is expected to drive the growth of the TV ad spending market over the forecast period. As more people subscribe to digital streaming platforms, advertisers are allocating higher budgets for video ads on these platforms. Another driver for this market is the ability to target ads more effectively through data collection and real-time bidding. Streaming services have sophisticated data capabilities that allow advertisers to direct ads towards specific audience segments based on viewer preferences, demographics, and geographic locations. This improves ROI on ad spending. Moreover, the growing popularity of mobile streaming is also fueling market growth, as mobile phones provide a personal screen for viewers that advertisers can leverage for micro-targeted campaigns.

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