The growth of internet connected TVs is slowing, according to the latest data from YouGov and the Reuters Institute for the Study of Journalism. Across 38 countries this year, 36.5% of internet users said they use either a smart or connected TV, up just 1.3 percentage points (pp) from 2018. This is the smallest year-on-year growth ever.
Indeed, connected TV penetration remained flat between 2018 and 2019, dipping 0.2pp to 18.4%. Smart TV penetration continued its growth, up 2.1pp to one-quarter, although this is the smallest year-on-year change ever.
Among the countries studied, Austria and Mexico report the highest penetration of internet connected TVs at nearly one-half. This contrasts with only one-tenth of internet users in Japan.
As a result of rising penetration and growing consumption, OTT television revenue is forecast to nearly double to $130bn by 2023. Growing advertiser demand for addressable TV will boost this market, although issues around measurement and fraud, viewer privacy concerns and audience fragmentation are prominent.