Pay TV and Cable Lost 5.8M Subscribers in 2022
by Frankie Karrer
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Consumer subscription services have been exponentially growing in popularity over the last few years. This is in part due to the large number of people interested in the convenience of having products and services accessible from the comfort of their home –– not to mention the past year’s health concerns related to going out to shop. And no subscription service industries have grown as much as streaming TV. A new survey from Brightback discovered that 98% of consumers now subscribe to at least one streaming media service, and 75% subscribe to two or more services.
Of those streaming services seeing a bump in subscriber numbers, five companies are seeing the majority of the share –– 82.5% of CTV reach in the U.S. spread between Netflix, YouTube, Amazon Prime, Hulu and Disney+. But newly released ad-supported services are expected to shake things up and spread out the streaming subscriber pie, with the recently rebranded Paramount+, Peacock, and an upcoming ad-supported tier from HBO Max adding even more free content for streamers to watch. And as Connected TV continues to grow in popularity among consumers, advertisers are taking notice. With Connected TV advertising’s ability to drive trackable performance, advertisers are warming to its ability to generate measurable revenue and conversions. As the streaming television landscape evolves, so too will advertisers’ strategies on how to make the most of it.
Streaming TV Leads All Consumer Subscription Businesses
Streaming TV-media businesses continue to lead the way in the broader world of exponentially growing consumer subscription services. That’s partly due to the ease of signups and sign-outs.
YouTube, Already a Connected TV Titan, Looks to Grow Even Further
TV represents YouTube’s fastest-growing experience for users, as the pandemic has allowed people to stay at home and binge on their favorite shows.
Why Investing in Connected TV Advertising is Your Best Bet Yet
CTV advertising’s ability to tie goals to performance takes a major step beyond the traditional Linear TV buy, and so television has really evolved into a digital marketing channel in its own right.
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