Nov. 5, 2024

Q3 Streaming Ad Revenue Surges 44%

US streaming platforms will likely report $3.5 billion of ad revenue, an increase of 44%, MoffettNathanson Research reports. Hulu will lead with $807 million, followed by Peacock at $541 million.

In the third quarter of 2024, U.S. streaming ad revenues experienced a significant surge, growing by 44% to reach $3.5 billion, according to MoffettNathanson Research. This impressive growth contrasts sharply with the performance of linear TV networks, which saw a decline of 6.3% (excluding the Olympics).

Among the top streaming platforms, Hulu continued to lead with an 8% increase, bringing its ad revenue to $807 million1. Peacock also saw substantial growth, largely driven by the Olympics, with a 52% rise to $541 million. Amazon’s Prime Video, which introduced an ad-supported option this year, saw its ad revenue soar fourfold to $441 million1. Netflix nearly doubled its ad revenue, reaching $429 million.

Free ad-supported streaming television (FAST) platforms also performed well. The Roku Channel’s ad revenue grew by 20% to $326 million, while Tubi saw a 12% increase to $240 million. However, not all platforms experienced growth; Paramount Global’s Pluto TV saw a 4.3% decline in ad revenue, attributed to falling CPMs, reduced viewing time, and a shift in ad spending towards Paramount+.

This surge in streaming ad revenue highlights the shifting dynamics in the media landscape, with streaming platforms increasingly capturing ad dollars at the expense of traditional TV networks.   

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