3Q Connected TV Ad Spending Jumps 39% To $926 Million: SMI

A stack of money
(Image credit: ATU Images/Getty Images)

Amid talk of an advertising spending slowdown, connected TV chalked a big gains in the third quarter compared to a year ago, according to new figures from Standard Media Index.

Standard Media Index

(Image credit: SMI)

SMI said that advertisers spent $926 million on connected TV, up from $664 million a year ago.

The biggest increase came from the travel, auto and restaurant categories, all of which were depressed during the pandemic.

Also Read: Linear TV Ad Spending Sees Uptick in September, SMI Says

In the third quarter, the travel category showed a 159% gain, auto revved up 96% and restaurants climbed 90%.

All of the categories measured by SMI showed increases. At the bottom of the list with the most modest gains worn by apparel & accessories, up just 0.5% and consumer packaged goods up 11.6%.

SMI data represents actual ad spending among all major holding companies and most major independents, accounting for some 95% of national brand spending. ■

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.