Consumers Plan To Spend As Much Or More Time Watching Live, SVOD And AVOD In Next 6 Months
- by Karlene Lukovitz @KLmarketdaily, May 4, 2021
The pandemic’s winding down won’t decrease most U.S. consumers’ consumption of traditional and CTV, according to research by Tremor Video and Unruly conducted in March and highlighted during Tuesday’s IAB NewFronts 2021.
In fact, most consumers are likely to engage with CTV at comparable or higher rates as the pandemic dissipates, the survey of a nationally representative sample of 893 U.S consumers found.
Over the next six months, 86% of consumers plan to watch live TV at the same or increased rates, 88% plan to watch the same or higher amounts of TV via paid streaming (SVOD), and 81% plan to maintain or increase their viewing of TV via free streaming (AVOD).
Those 18 to 44 were most likely to say they’ll spend more time watching both paid and free TV, and those 35 to 54 were mostly likely to say they’ll spend more time with AVODs (chart at top of page).
Those with high annual incomes ($100,000 or more) are likely to show the largest increase in all forms of TV watching.
If those stated plans play out, it will be significant, given the surge in streaming consumption in particular during the pandemic. Nearly two-thirds (61%) of respondents report having watched more TV than before the pandemic.
While 43% of cable/satellite subscribers said they have cancelled or plan to cancel, 57% will stick with their paid providers.
The survey also probed consumers about their attitudes and spending plans as their lives become more “normal.”
The good news: 56% feel optimistic about the year ahead (29% are neutral and 16% pessimistic), and on average across categories, 83% expect to maintain or increase their spending.
However, in findings that should send up a flag for established brands, more than a third (37%) of respondents indicated that post-pandemic, they are more likely to look for cheaper alternatives when shopping, and 26% said they’re more likely to try new brands.
The survey's nationally representative sample accounts for gender, age, and household income as well as other attributes like geographic region.
Karlene,that's a rather small sample to be broken down by five age segments as well as three types of TV content. Moreover, I find it amazing that so many respondents said that they would watch more "live TV". I can see why they would make that claim for SVOD and AVOD as the amount of program content on those platforms is increasing dramatically thanks to new players like Disney+ Paramount +, Peacock, Discovery, etc. But why "live TV". I wonder if that's how they asked the question," Do you plan to watch more---or less--'live TV' in the next six months?" If so, what did the respondent think they meant by "live TV"---sports? Or did they make it clear that they ware referring to the full range of "linear TV" content?
I never cease to be amazed at the amount of trust or belief in an opinion poll of unstated methodology and small sample size (in this case n=893) of people's opinion of future behaviour, while electonic tracking of the actual behaviour of 65,000 people is so highly maligned.
Neither is perfect and both have issues, but truct seems to be proportionately inverse.