Juniper Research released data Monday that forecasts nearly 2 billion active subscriptions will use on-demand video services in 2025 -- up 65% compared with 2020. Driving the growth are traditional broadcasters that increasingly turn to streaming services to extend their reach and compete with online video giants such as Netflix and Amazon Prime Video.
But those video giants have gained acceptance since the beginning of COVID-19 -- basically because consumers have changed their behavior, finding it more comfortable to watch movies at home.
Brands are betting this trend will continue. Makers of Folgers coffee, Scott toilet paper and Kraft Mac & Cheese invested in factories and new products aimed at remote workers post-pandemic, according to The Wall Street Journal.
When it comes to video, home means digital. And digital will create a new level of performance marketing with the ability to track and collect data.
Savanta released data Monday showing that 67% of Americans would prefer to watch recently released movies at home instead of going to the movie theater, and 12% of American consumers would prefer to watch recently released movies at the theater.
The online survey of 500 American adults nationally represents the U.S. population in terms of age, gender and regional spread.
Half of the American consumers participating in the survey said they are likely to pay to watch a recently released movie on a streaming platform, while 32% are not likely to pay to watch, and 17% are neither likely or unlikely to pay to watch a recently released movie on a streaming platform.
How much are consumers willing to pay to watch new releases at home? Consumers in the U.S. are willing to pay an average of $14 to watch a recently released movie on a streaming platform. Some 46% said they will pay less than $10, while 30% will pay between $10 and $19, 15% will pay between $20 and $30, and 8% will pay more than $31.
Some 51% of U.S. consumers are not sure when they would return to a movie theater. About 17% cited their time frame to return to movie theaters as the next six months, while 13% said within the next month, 11% said maybe in the next two to three months and 8% cited within the next four to five months.