Advanced TV streaming continues on an upward trajectory with heavy consumer adoption.

Streaming at a Glance

TV streaming accounts for 26% of all time spent on TV, although this number could increase to 33% by the end of 2021.

Time spent with network and cable TV is holding strong at 64%, but it is expected that 27% of US households will cut cable in 2021.

Eight percent of time spent is on video-on-demand, streaming from cable set-top boxes, and other TV uses, such as gaming and watching DVDs.

Ninety-one percent of Americans subscribe to at least one TV subscription service, and 93% of Americans plan to increase or maintain streaming subscriptions.

Nearly seven million American households dropped their traditional pay TV subscription in 2020, a record high, with many looking for entertainment alternatives during the pandemic.

Cord-cutting has skyrocketed due to three main factors: people want to be digitalized, lack of time, and availability of more/different types of content.

The average American household pays for four streaming services annually, spending an average of $47 per month.

RECOMMENDATION

Marketers and brands should be cognizant of the constantly evolving streaming space, focusing on subscriber audience, content output, buzz, and potential growth opportunity. Recent mergers, partnerships, and new players in the space should also be of interest, allowing marketers to lay groundwork for greater potential audience reach, targeting niche audiences, and unique opportunity integration across appropriate streaming services and programming.

josh designOctober 20, 2021