Video/Connected TV streaming continues to be on the rise
A survey conducted by The Trade Desk with YouGov surveyed 1,010 adults consumption of video content on our screens, living in the U.K. in June 2022. Research was conducted with Savanta surveying 250 advertisers across brands and agencies in the U.K. who spend a minimum of 2 million pounds annually.
In 2022, streaming video content continued to entice viewers from all age groups and demographics. While this change has created more fragmentation for viewers and advertisers alike, it also gives advertisers more opportunities to significantly expand their reach and place their ads alongside the most-watched content with more precision. In response, many are adapting their marketing strategies as they consider budget in this vibrant new world of premium content
Key findings were
73% of the UK population choose to watch shows/movies on streaming platforms
47% of UK viewers say they are spending less time watching traditional TV
51% of UK viewers are open to either a free service funded by advertising or a less costly service subsidised by tailored adverts
76% is the amount that advertisers are prepared to increase their spend by on connected TV
88% of advertisers say they are likely to buy inventory from a streaming platform if it offers exclusive access to live sports or other premium content
Streaming is now the most popular way for U.K. consumers to watch content, 73% of the population watching shows and movies on streaming platforms.
68% per cent say they watch traditional broadcast TV. Respondents shift between streaming platforms and linear TV…so this is not an either/or situation, more viewers utilising both, dependent on the content they want to consume.
84% viewers in the 18- to 34-year old age category and 83% viewers in 35-54 age group favour streaming content over traditional TV.
64% 18- 34-year-olds spend up to two hours a day watching streaming content.
In addition to Netflix and Disney, U.K. Broadcasters from Channel 4 to ITV to Sky are all producing top-notch content for their own streaming services, All4, ITV Hub, Sky Now & BBC I player.
40% of U.K. viewers spend more time streaming with 47% spending less time watching traditional television.
These figures are good news from an advertiser’s perspective, as advertisers can apply data to TV advertising in ways that are not possible in traditional, linear TV, driving precision and aiming to add value.
88% of U.K. advertisers say they are likely to buy inventory from a streaming platform if it offers exclusive access to live sports or other premium content
What is being watched and streamed?
In the 18 –34 year old age group.
44% stream documentaries
46% watch comedies on streaming platforms
41% catch up on dramas
In addition viewers in the 35- to 54-year-old category show a similar predisposition to watching this kind of content via streaming rather than traditional TV. These insights are not lost on advertisers who are spending budget accordingly against drama – 50%, comedy 48%, entertainment 48%, and live sports 48%
26% of British viewers prefer streaming platforms as their go-to viewing method for live sports. A quarter of all Brits – 17 million people use streaming and video on-demand (VOD) to follow sports events.
55% of U.K. viewers do not want to spend more than 30 pounds per month on streaming services. As an alternative, 51% per cent of U.K. viewers are open to either a free service funded by advertising, or a less costly service subsidised by tailored ads. In response to these findings more than 6 in 10 (64%) of advertisers mention that their brand is likely to increase spending on programmatic CTV by 76% in 2023.
67% of advertisers expect to grow their ad budgets for programmatic campaigns to align with live sports events on streaming channels and connected TV.
For advertisers, streaming channels offers the opportunity to access audiences on a more granular level and it can offer a more insightful metrics.
Brand lift (44%), viewability (42%) and campaign reach and frequency (33%) are the top three metrics used by advertisers to measure the performance of live sports on connected TV. 60% of these advertisers cite better measurement capabilities on connected TV compared with traditional television. 59% say there’s more flexibility on CTV, while 51% say CTV allows them to target specific subsets of live sports viewers.
If you need some help with your marketing, get in touch by emailing us on [email protected]