Emarketer podcast: How YouTube Became TV’s Most Watched Platform on Its 20th Birthday
The hosts speculate on why YouTube’s advertising share is still only roughly 5% of the global total, despite it being more watched than the OTTs (AMZN prime, Netflix, eg). First it’s not a great comparison since those other platforms are subscription based. But also, it’s because ad rates for shortform video is always going to lag longform.
Ironically, passive viewing (mostly of long form content–think about an NFL game) is worth more to advertisers. The assumption is that you are laying back in your couch and your attention is mostly on the TV. Whereas on shortform, you are mostly on mobile on your way somewhere, and/or you are watching a quick video in between activities.
Definitely CTV (incl. YouTube) ad rates must converge with broadcast TV at some point.