The smart TV ecosystem is getting more traction over the years, especially after the pandemic with more marketers and advertisers shifting towards it. Around the world, people are spending as much time or more with streaming as they are with linear. In the U.S., almost 9 in 10 consumers have access to a connected TV.
CTV- The Preferred Device
CTV or Connected TV is increasing in popularity amongst streamers and currently accounts for 80% of video streaming content. In the U.S., 83% of consumers have access to at least one paid video streaming service, with access to an average of 3 services. Paid streaming video services have mainstream adoption, but there is diminishing growth while AVoD adoption is getting more traction.
North America is currently the leader when it comes to streaming in CTVs where 84% of Americans are streaming on their Samsung Smart TV, compared to 89% in Europe. In Europe, Germany is the frontrunner in cord-cutting.
Viewers Opting for Ad-Supported Content
With consumers indicating they are maxing out on paid video streaming subscriptions, ad-supported content is currently in-demand, giving advertisers a real opportunity to reach key consumers.
Ad-sponsored streaming may come out strong in Europe as a recent IAB research report showed that two out of three Europeans don’t want to spend more than 20 Euros on subscription TV services like Netflix/Amazon Prime and that those same viewers are willing to watch ads.
Advertisers who are keen on shifting into streaming environments, will need to understand better which types of ad experiences make the best match for streaming users. Many AVOD platforms have now realised the full potency of ads and have devised the winning formula, prioritising on customers first and then advertisers.
Streaming in CTVs to Increase Regardless of Region
Connected TV streaming is on the rise and linear TV is facing choppy waters as reports showcase that time spent watching linear TV in North America is down 6% and about 5% in Europe.
With the winter vacation mood approaching, and more viewing options becoming available, time spent online in streaming seems likely to increase regardless of region.
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