San Francisco, Nov 27, : A Gartner report revealed that US viewers aged 18-43 spend an average of 63% of their TV viewing time on streaming platforms, rather than cable, satellite, or broadcast. The amount of time spent streaming TV is on the rise, and media budgets are following their lead.Companies report that 25.1 percent of their broadcast and cable advertising budgets go to streaming TV.
Eric Schmitt, Gartner Marketing senior director, stated that “the streaming services media market is still very fragmented and immature” and that it is being challenged by the popularity ad-free services.
Four of the top six streaming TV service providers (Netflix and Amazon Prime Video), are ad-free, while 10 of the top 16 are primarily ad supported (e.g.YouTube and Hulu.
According to the report, 82% of US viewers (those who were surveyed) use at minimum one streaming TV service and 64% watch at least one ad supported service.
“Consumers’ streaming services choices and viewing habits differ significantly depending on their age and gender.” Katya Skogen (director of research at Gartner Marketing) said that younger viewers (18-43 years of age) tend to have more streaming TV options.
“This tendency to stream multiple streaming services is especially prevalent in younger men.Skogen said that younger women use fewer streaming services, but spend more time streaming.
Companies should now evaluate streaming TV campaign goals, which could include maximising reach, expanding mainstream TV ad purchases, or scaling performance-oriented, digital advertising objectives.
Schmitt stated that “Marketing leaders must learn how to navigate this fluid medium high in growth to deliver TV ads efficiently, effectively, and effectively.”
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