This year has been a wild ride for entertainment consumption, and research company Unruly has released data on viewers’ habits throughout the pandemic. The study of more than 1800 people in July reveals that 42% of consumers are planning to cancel their cable subscription. This doesn’t mean people are watching TV less, it just means viewers are turning to streaming options by the droves.
That’s good news for all the streaming services out there, especially the new ones like HBO Max and Peacock who came at the height of the pandemic when media usage was at an all-time high and people were looking to be entertained. Research shows 35% of US consumers have tried a new ad-supported streaming service since the COVID-19 outbreak.
It’s also good news for marketers who use CTV ads over linear. Unruly’s study showed viewers were 52% more likely to buy a product after seeing it on a CTV advertisement vs a commercial on traditional TV. Consumers were also 53% more likely to search for a brand,
Plus, people don’t seem to mind watching ads either. Almost 3/4 of streaming viewers are willing to sit through some ads if it means getting content for free. Overall, CTV advertising performs better than linear TV across key indicators.
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Source: Cord Cutters News