Advertisement spending on connected TV (CTV) is expected to reach $500 million by 2027 as the affordability of internet-enabled TV sets and wired broadband subscriptions increases, according to a senior industry executive. "Ad spend on CTV is expected to grow quickly, reaching $500 million by 2027," said Siddharth Dabhade, South Asia managing director of global marketing intelligence firm MiQ.
Previously, GroupM predicted that CTV ad spending would reach $395 million by 2027. Dabhade, on the other hand, believes that once CTV reaches 200 million viewers, ad spending will shift significantly towards it.
According to market estimates, there are between 25 million and 35 million CTV households in India, translating to 80-110 million viewers. It is expected to double to 60-70 million households and 200-250 million viewers by 2027. "The affordability of internet-enabled TVs and broadband will drive growth in the CTV universe," he said, adding that the top six metros account for a sizable portion of the CTV base, with tier-1 and -2 cities rapidly expanding.
Dabhade added that CTV's future growth will be determined by the rapid increase in rural affordability and infrastructure development. "The demand for streaming content on TV is increasing even as content consumption on mobile devices is growing," he said.
