Connected TV use is rising and companies like Conde Nast and Refinery29 want in
Digital brands are learning that while mobile is still a great place to reach a lot of eyeballs, consumers are spending more time and longer periods of that time streaming video content on their connected TVs (CTV).
Conviva estimates that CTVs had a 148 percent growth in plays last year, outpacing mobile, which saw a more modest 94 percent growth. While mobile is still a strong choice for watching content on the go, connected TVs accounted for a 56 percent share in viewing hours for 2018 — an increase of 9 percent from 2017.
The stats aren’t surprising when looking at the number of U.S. households that own a connected TV. At the end of 2017, 210 million devices were installed in consumer homes actively delivering internet connectivity to the TV screen, and by the end of 2021 there are forecast to be 275 million, according to The NPD Group.
For digital brands like Conde Nast-owned Bon Appetit, which launched its own streaming app on Thursday, this growth in CTV use offers an opportunity to create its own viewing destination where it has greater control of content and advertising.
For Only $1/Day Members Access:
- 5 exclusive members-only stories a week
- Digital Video industry analysis and deep-dive features
- Daily WrapPRO newsletter covering the latest digital video industry news
- Access to full length Members-Only Video archive
- Video of notable sessions from TheWrap Events (TheGrill, Power Women Summit)
- VIP seating for TheWrap's Screening Series with stars and filmmakers
- Access to 'chill spots' at select industry events Sundance, TIFF, Newfronts and more
- Access to exclusive invite-only events
- DataBank showcasing key stats and streaming video trends in the OTT market
- In-depth entertainment industry research and whitepapers