While linear TV is slowly declining, there is growth in ad-supported OTT-CTV. Seeking profitability, streaming services are raising subscription rates and getting more aggressive with advertising. Almost all streaming services now offer ad-plans. Viewership of those services has also greatly increased. Initial ad costs were high but have softened, although not enough to make up for the large divide between linear TV ad costs and streaming ad costs.
Peacock, Paramount+ and Hulu lead the way in ad-supported content, but Amazon’s Prime is expected to make a big splash in 2024 with its advertising plan. How things shake out in 2024 with streaming video in general will keep advertisers challenged.