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10-09-2017, 11:55
European connected TV advertising market set to grow by 26% DetailsEditor | 10 September 2017 As the over-the-top (OTT) advertising landscape grows across Europe, the US and Asia, connected television advertising in the UK is expected to grow to £220 million in 2020 according to research from SpotX.Conducted by research and strategy consulting firm MTM, the study analysed factors such as advertiser demand for connected television, consumer viewing habits and internet access and availability. It found that £115 million worth of advertising was viewed on a TV connected to the open internet via streaming devices, smart TVs, games consoles and set-top boxes in 2016. The UK was found to be the largest and most advanced market in Europe with an established connected TV advertising ecosystem. The research predicted that in 2020 three-quarters of UK households will connect their TVs to the internet, up from two-thirds in 2016, according to stats from regulator Ofcom. In addition, the data showed that 91% of households have fixed broadband connections, the same percentage of which offer speeds of over 4Mbps, which is deemed to be more than suitable for watching TV delivered over the internet. Awareness and adoption of connected TV was high and creating connected television apps was marked as one of the top three priorities for the broadcasters questioned for the research in the UK and if challenges such as a common currency for audience measurement are met the industry could grow faster.However, growth in the UK is slower than the other countries surveyed by MTM London where nascent markets are fast building connected TV ecosystems. The research forecast growth in excess of 100% on continental Europe between 2016 and 2020 supported with improving broadband penetration and speeds. Germany was revealed as the second largest market for connected TV advertising, followed by France.Commenting on the findings Leon Siotis, managing director for the UK and Southern Europe at SpotX (pictured left) said: