SpotX, a video advertising platform, said it now reaches 70 million connected TV households in the United States, representing a 40% increase in reach since May 2020.
The company attributed the growth to partnerships with manufacturers including LG, Roku, Samsung, TiVo and Vizio, along with addressable TV deals with Project OAR, pay TV distributors and ad tech/media companies including The Trade Desk and AMC Networks.
In EMEA, the company said it now reaches another 25 million connected TV households which it said is approximately half of all ad-supported connected TV households across France, Germany, Italy, Spain and the United Kingdom.
RELATED: Magnite buys SpotX for $1.17B
The pandemic pushed more consumption of streaming video in 2020 and drove advertisers to shift more of their budgets over to connected TV through platforms like SpotX. The company said global ad spend on its platform grew 42% in 2020, driven primarily by OTT clients who account for nearly 70% of overall ad spend.
SpotX said North America is still its largest market, representing approximately 88% of overall ad spend in 2020, but business in EMEA and APAC is growing by 107% and 66% year over year respectively.
SpotX anticipates more growth throughout 2021 and does not project significant impact from forthcoming Google or Apple privacy changes since “the majority of SpotX's business lies within CTV and addressable TV where first-party audience data is paramount and cookies are not used.”
The company earlier this year announced a deal to be acquired by Magnite for $1.17 billion. Magnite said it hopes by acquiring SpotX that it can provide better support for sellers and create an alternative to the connected TV advertising market’s largest players, which includes FreeWheel and Xandr Monetize.