Pay TV and Cable Lost 5.8M Subscribers in 2022
by Frankie Karrer
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More and more evidence supports the expectation that smart TVs will rule the television market in the near future. In fact, a recent study from Strategy Analytics found that more than half (51%) of all households worldwide will own a smart TV by 2026. This news comes after recent reports that the United States household market alone has already surpassed an 80% saturation rate. According to a report from Leichtman Research Group conducted last year, 82% of US households have an internet-connected device, as compared to the 80 percent in 2020, and 74 percent in 2019.
Part of the reason for this rise in popularity is the increased proliferation of streaming services available on Smart TVs through which viewers can consume TV and movie content. By the end of 2021, there were almost 50 streaming services available in North America alone—including some big names such as Apple TV+, HBO Max, and Netflix. And with reports from Deloitte suggesting that around 150 million people will unsubscribe from various subscription video-on-demand services in 2022 in favor of free ad-supported streaming platforms, advertisers have an opportunity to capture even more consumers by advertising through Connected TV than ever before.
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