Pay TV and Cable Lost 5.8M Subscribers in 2022
by Frankie Karrer
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While some Connected TV watchers have strong opinions on whether they are willing to watch ads while streaming, new data reveals that most streamers are less concerned with the presence of ads when selecting a new streaming service. A survey conducted by Gartner this year found that the majority of streamers (57%) are watching a mix of ad-supported and ad-free streaming services. The rest of streaming viewers either watch only ad-supported (19%) or ad-free (24%).
As far as why streamers might decide to subscribe to a new streaming service or subscription tier, price is the number one consideration—76% of consumers say that the cost of a service affects their decision of whether to subscribe. Presence of advertising, on the other hand, only was important to 11% of the survey respondents. And with 75% of consumers expecting prices in all categories to continue to rise over the second half of this year, along with concerns about a potential recession, it’s likely that more consumers will be turning to ad-supported streaming services in the future.
Connected TV Ecosystem Holds the Potential of Greater Return for Eager Advertisers
As viewership trends shifted towards consumers discovering their new favorite programming via free, ad-supported CTV apps, advertisers are quickly taking notice.
Matching Ad Creative to the Consumer Mindset on Connected TV
In order for advertisers to create value with their customers, they need to not only build connections, but also understand the ‘why’ in the way they feel. While having a solid brand can do a lot of the heavy lifting, it’s not enough on its own to produce consistent results.
TikTok Ramps Up Connected TV Push
TikTok—now boasting over 1 billion monthly active users—has already started making inroads in the CTV space, with apps on Fire TV, Vizio, Google TV and Samsung. It appears it is looking to take its explosive growth in short-form entertainment onto living room screens.
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