Penetration of internet connected TVs in the United States has topped one-third, according to the latest data from the Reuters Institute for the Study of Journalism. Use of either a connected or smart TV reached 34.8% in 2018, up from 16.0% in 2014. However, year-on-year growth in 2018 was 4.7 percentage points (pp), a slower rate than 2017's 7.6pp.
This growth has been driven particularly by smart TVs, which rose 17.6pp between 2014 and 2018. Over the same period, growth in connected TV penetration has been more gradual, increasing by 5.9pp.
As a result of this increasing popularity, global advertising expenditure on over-the-top TV is expected to reach $68.7 billion in 2018. However, TV's effectiveness is undervalued, with marketers spending less this year.