Disclaimer: We may earn a commission if you make any purchase by clicking our links. Please see our detailed guide here.

Follow us on:

US Adults Now Stream More on OTTs Than Watch Traditional TV

IANS
IANS
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book.

Join the Opinion Leaders Network

Join the Techgenyz Opinion Leaders Network today and become part of a vibrant community of change-makers. Together, we can create a brighter future by shaping opinions, driving conversations, and transforming ideas into reality.

Showcasing a growing trend globally, a Gartner report has revealed that US viewers in the 18-43 age group now spend an average of 63 percent of their overall TV viewing time watching on various streaming platforms versus cable, broadcast, or satellite.

Time spent on streaming TV is soaring, and media budgets are following suit as companies report an average of 25.1 percent of broadcast and cable advertising budgets going to streaming TV.

“However, the streaming services media marketplace is still very fragmented, immature, and challenged by the popularity of ad-free services,” said Eric Schmitt, senior director analyst in the Gartner Marketing practice.

Four of the top six streaming TV services are ad-free (Netflix, Amazon Prime Video, Disney+, and HBO Max), but 10 of the top 16 are principally ad-supported (e.g. YouTube and Hulu).

The report indicated that 80 percent of US viewers (those surveyed) use at least one streaming TV service overall, and 64 percent watch at least one ad-supported service.

“Consumers’ streaming service choices and viewing habits vary substantially by age and gender. For example, we see that younger views (18-43 years old) have a broader portfolio of streaming TV services,” said Katya Skogen, director of research in the Gartner Marketing practice.

“This penchant for streaming service variety is particularly true for younger men. Younger women, on the other hand, use fewer services but spend more hours streaming,” Skogen added.

The companies should now assess streaming TV campaign objectives, which may include maximizing reach, extending mainstream TV ad buys, or scaling performance-oriented digital advertising objectives.

“Marketing leaders must learn to navigate this fluid, high growth, medium in order to deliver TV ads efficiently and effectively,” said Schmitt.

Partner With Us

Digital advertising offers a way for your business to reach out and make much-needed connections with your audience in a meaningful way. Advertising on Techgenyz will help you build brand awareness, increase website traffic, generate qualified leads, and grow your business.

Join 10,000+ Fellow Readers

Get Techgenyz’s roundup delivered to your inbox curated with the most important for you that keeps you updated about the future tech, mobile, space, gaming, business and more.

Recomended

Find Apps

The Ultimate Hub for Discovering Apps Unlock a world of apps: your ultimate hub for exploring and discovering limitless possibilities for on your every needs.

Power Your Business

Solutions you need to super charge your business and drive growth

More from this topic