If you are a fan of AVOD streaming services, you will know the impact advertising has on your everyday life. Even if you aren’t using a fully advertising revenue supported service, alternatives like Hulu will have a cheaper pricing tier which includes commercials.
A recent report from Kantar has unveiled staggering figures regarding the amount of revenue generated from advertising. To be precise, four platforms were responsible for creating a whopping $2.25 billion. These were Hulu, Peacock, Tubi and Paramount+.
Breaking it down, Hulu was the most impressive of the four as it generated almost a third of the total revenue – it created a billion dollars by itself. Next in line was Paramount+, which generated $822 million, while Peacock was responsible for $279 million and Tubi brought in $250 million.
Various other services combined brought in the remaining revenue, taking the total figure up to $3.5 billion – clearly indicating that streaming platforms are a good destination for advertisers. This sentiment is clearly one which media and advertising agree with, as the combined spend was around $574 million.
The biggest industries attracted to streaming platforms as a vehicle for advertising were pharmaceutical firms, automotive companies and retailers. Interestingly, it was revealed that the biggest spend was Capital One, as they spent a staggering $74 million on advertising.