How Retail Media is Taking CTV to the Next Level

Topic: Thought Leadership

Read Time: 2 minutes

An illustration of a living room home theater setup. There is a television mounted on a wall and decoration elements

Connected TV (CTV) is one of the best ad formats for building brand awareness — and it’s gaining impressive reach by the day. With more and more consumers on streaming-compatible devices, participation is expected to reach levels that rival mainstay ad formats.

Check out some exciting stats about the future of CTV.

The (Almost) TV Leader

Streaming is making steady strides in its effort to surpass the influence of traditional television. According to Insider Intelligence, next year’s daily CTV screentime among U.S. adults will come within 45 minutes of linear TV (2:03 and 2:48, respectively).1

And we may see CTV make the leap soon, with streaming growth climbing at an impressive pace. In the world of retail media, ad spend in the category is projected to grow to $5.63 billion by the end of 2027 — compared to $813 million in 2023.2

CTV is also the #1 most popular offsite ad format for advertisers on retail media networks. Among all ad formats, it comes in at #3 after onsite search ads (#1) and onsite display ads (#2).3

The ability to occupy multiple locations at once on the sales funnel also adds to CTV’s potential. By including a “Buy Now” button in creative, customers who are further along on their customer journey can convert with a product purchase from the comfort of their living room.

CTV and Best Buy Ads

The two top pain points for those advertising with CTV are measurement and audience targeting.4 Our team at Best Buy Ads made strides on both fronts by partnering with Roku Advertising in 2023. This exciting new option within our portfolio combines Roku’s platform capabilities and our first-party data to enable deeper insights and enhanced targeting ability.

Connect with Our Team Today

Ready to add CTV to your customer journey? Reach out to our retail media experts to get started.

Contact a Partner & Category Marketer today.

    1. Insider Intelligence, “Average Time Spent per Day With TV vs. Connected TV (CTV) by US Adults, 2019-2024
    2. Insider Intelligence, “Why retail media is the future of TV advertising”
    3. MNTN Research, “The Growing Relationship Between CTV and Retail Media Networks”
    4. Insider Intelligence, “The pain points and opportunities behind CTV advertising”