For the first time ever, the percentage of free or paid streaming video subscribers in the U.S. (68 percent) has caught up to the number of paid TV subscribers (67 percent), according to new research from the Consumer Technology Association (CTA) ™. The new study, The Changing Landscape for Video and Content, also shows the time consumers spend watching video content on TVs (51 percent in 2016, down 11 points since 2012) is now equaled by – within the sampling margin of error – time spent watching video content on all other consumer technology devices (49 percent) including laptops, tablets and smartphones.
“More and more consumers are embracing the freedom of connectivity – in this case, the anytime/anywhere access to video content,” said Steve Koenig, senior director of market research, CTA. “This is one of the driving trends of our time. Today’s advancement of technology delivers ‘content convenience’ that results in cultural changes such as binge watching, second screen behavior, content recommendations and the screens consumers use to consume video. And we expect streaming subscribers to surpass paid TV services – and by a fair margin – in the next year or so.”
The growing diversity of content sources and consumer viewing devices helped raise consumers’ average video consumption. On average, the amount of video that consumers watch per week is increasing considerably – up 32 percent since 2001 (16.8 hours a week in 2016, from 12.7 hours in 2011) – or 3.2 hours a day.
Most consumers still learn about new content through traditional methods such as commercials on TV (56 percent), word-of-mouth (54 percent) and internet search (32 percent). Yet roughly one in five cite nontraditional mediums such as streaming service recommendations (23 percent), social media (21 percent) or radio, TV or podcast host recommendations (16 percent) as content discovery sources.
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There has been a 273% increase in spending on linear TV advertising campaigns and an 840% increase in the number of linear TV impressions available to be bought and sold programmatically in the last 12 months, according to Videology.
The advertising platform’s Q4 2016 US TV & Video At-A-Glance report, view-through rate was the highest chosen objective for campaign goals (42%), followed by viewable rate (31%) and click-through rate (24%). Among advertisers that chose viewability as an objective, the MRC standard remained the most frequently used (90%), followed by custom, more stringent, standards (10%).
The report also found that, in the second half of 2016, more than a quarter of advanced TV campaigns used their own first-party data for targeting. These data segments could include past purchase history, website visits, registration data or loyalty data, and offer brands a way to utilize their direct relationship with customers for more relevant advertising.
“Brands and agencies have a huge amount of owned data, created through their direct relationship with consumers,” said Scott Ferber, founder and CEO, Videology. “By layering this first-party customer data into TV campaigns, brands deliver a far more tailored and granular advertising experience, ultimately resulting in greater ROI on their ad spend. This should be, and is becoming, a priority for anyone with access to owned data. I expect we will see this trend grow exponentially in the coming years.”
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Driven by millennials and older adults, TV set viewing in the US rose by 4.6 million people over the last year, according to the Video Advertising Bureau.
The survey found that TV reaches 287 million people monthly, significantly more than any other video platform. In fact, television still commands 88% of total video time among persons over 18. Even the elusive young adults aged 18-24 spend three-quarters of their total video time in front of the television.
And, regardless of ethnicity, TV is the primary video source, with blacks using it for 87% of their video time; Hispanics watching 81% of the time and Asians viewing 72% of the time.
Also, despite the rise of on-demand video, watching TV live as it airs represents eight out of ten minutes viewed. This is true across the age spectrum, with millennials watching live more than 80% of the time. The VAB found that in general, time spent with DVR time-shifted TV is down from year ago, and is down a big 18% among adults aged 18-24.
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