According to findings from entertainment technology and audience insights specialist TiVo, the average global viewer spends 4.4 hours each day watching video. Coupled with the global average of 28 minutes spent each day searching for content to watch, that is nearly five hours per day of video engagement, which amounts to 20 per cent of daily life, building à la carte entertainment experiences that work best for them.
The company’s annual multi-country Global Consumer Trends study explores viewer engagement with the video content, services and devices that shape the evolving consumer entertainment experience.
The study also found that about 90 per cent of households are currently paying for traditional pay-TV service. However, more than 60 per cent are also subscribing to streaming video services such as Netflix, Amazon Prime and Hulu.
In the US, more than 50 per cent of pay-TV subscribers have been with their service for four years or more. Subscribers with the shortest tenure are also the least dependable: more than 10 per cent of those who have subscribed to cable for a year or less say they’re very likely to cut the cord in the next six months.
It’s not just the amount of content that has exploded in the last few years. People now have more screens than ever at their disposal to watch their favourite videos. Nowhere is this truer than in Latin America, where 50 per cent of all viewing now takes place on a digital device other than a television set, according to the study. By way of comparison, viewers in the US say that more than 75 per cent of their video consumption still occurs on their TV.
“Consumers today are acting as their own aggregator, piecing together what they need from a variety of video service and device combinations to suit their individual needs,” said Paul Stathacopoulos, vice president, Strategy, TiVo. “Success in this new environment will not be about a single content source monopolising the living room, instead it will be about adapting the business model to deliver value, integrated services and personalisation to meet the evolving consumer needs.”
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