Image from: Video Streaming / Shutterstock
A few weeks ago, Sal Trifilio of The Mad Marketer wrote, “…streaming video is killing the television star,” and it really struck me, because a similar version of that phrase has been used for years to describe how a new media tactic outperforms its predecessor. In many ways, that’s typically true.
Trifilio wrote that in response to our recently-released report, AdReaction: Video Creative in a Digital World. AdReaction found that consumers are not only consuming more and more content, but have shifted their consumption patterns to show a strong preference towards streaming video. The study found that, in a given day, respondents consumed 66 minutes of Live TV compared to 139 minutes of streaming video (totaled across screens).
Consumers are becoming video content-hungry, with video consumption making up 28% of time on smartphones, 31% on laptops, and 41% on tablets. And younger generations are furthering the trend, with respondents age 16-24 consuming even more video content than older respondents, with over 1/3 of all time across all devices devoted to video content.
Perhaps, not surprisingly, younger generations consume the most video content overall, with a preference towards digital devices and streaming content (they consumed the smallest amount of time on TV, compared to their elders). Respondents age 16-24 consumed 226 minutes of video content a day, compared with 198 minutes by respondents age 25-34 and 179 minutes by respondents age 35-45.
Still, live TV continues to garner large audiences, and networks and over-the-top service providers have begun to produce award-winning content with major television talent that comes across a digital stream. It’s supply and demand; consumers want great content, and in the format they want it, so content providers must adapt to keep up. Perhaps instead the phrase should be, “Streaming video is evolving the television star.”
To learn more about this study and its other fascinating findings, register for our U.S. webinar on Wednesday, November 4, 2015 (or click here to find webinars around the globe), or view the report here.