TV viewers are fond of streaming, and streamers like to watch TV. Ergo, the offering of broadcast programs can bolster the success of a streaming service. The percent of TV viewers who stream some of their TV shows has risen from 15% six years ago to 57% in 2016, according to new data from Horowitz Research.
While the over-the-top industry has enjoyed tremendous growth lately, a new report shows consumers are also regularly canceling such services. Consider this: By the end of 2015, it was reported that about 20% of U.S. broadband homes had shuttered their over-the-top video service subscriptions in the past twelve months. That's a slight rise from the second quarter of 2015, when the snip-snip number came in at 18% overall.
TV ad spend on basketball's March Madness is second only to football's postseason numbers. A 30-second spot in the 2015 NCAA Championship game averaged $1.56 million, according to data from Kantar Media, compared to $4.4 million for a 30-second Super Bowl spot. So the question becomes: Can marketers get more bang for their buck with March Madness campaigns? And do they even need to spend on TV to make the most of March Madness?
Programmatic advertising is on track for another year of robust growth in 2016, driven in part by strides in video ad buying in this fashion. In its latest report on the programmatic buying marketplace, eMarketer predicted that digital programmatic display ad spend will hit $22 billion this year, comprising 67% of the total digital display ad market in the US.
Convenience drives revenue, as the video-on-demand market is proving. Driven by viewers' desire to watch when they want, the VOD market is growing at a rapid clip and generated $49 billion in worldwide revenue last year. That's up from $45 billion in 2014, according to Future Market Insights. The research firm predicted VOD revenue will hit $108.6 billion within 10 years.
If it seems as if watching video on cell phones is becoming a ubiquitous pastime, that's because it is. About 81% of Americans who use smartphones are now streaming video on those phones -- a trend driven in large part by those under 25, NPD Group says in a new report.