Streaming Revenue Will Overtake Pay TV in Q3 of 2024
by Frankie Karrer
2 Min Read
Your destination for the latest CTV stats, trends, and insights.
3 Min Read
Consumers are continuing to make the switch to Connected TV from cable. A recent study from Magnite Research, CTV Streaming: TV’s Next Big Moment, found that 22% of cable subscribers surveyed plan to cancel their pay-TV service within the next six months. And many of them (44%) said that they would cancel if they could access live sports and events through streaming. Luckily for those consumers, live streaming through Connected TV is already a reality. In fact, they would be joining the 68% of CTV viewers who already use at least one live streaming video device, while also taking the time to engage with the commercials. Diana Horowitz, SVP of advertising sales at FuboTV, a sports-themed online TV platform, said this comes as no surprise, “Historically live sports kept audiences tied to their cable subscriptions. That’s no longer the case with … marquee events and regional sports networks widely available on CTV platforms.”
This is good news for advertisers—respondents who said they stream live sports showed higher levels of acceptance for advertising. According to the study, 49% agreed with the statement: “TV ads are an important part of my TV watching experience,” and 62% expressed that they had discovered new products as a result of watching ads through streaming services. Ultimately, as more consumers make the switch to live-streaming content through Connected TV, advertisers have an opportunity in front of them to reach an engaged audience with their brand message.
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Live Sports Streaming Now Accounts for 30% of All Connected TV Streaming
Cord Cutters News
For a long time, it was sports fans keeping traditional cable TV alive, but that is changing too. According to a new report from Magnite, live sports streaming now accounts for 30% of all CTV streaming.
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