Pay TV and Cable Lost 5.8M Subscribers in 2022
by Frankie Karrer
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With more consumers spending time at home, whether due to stay-at-home restrictions or new work from home policies, television has become an even bigger part of everyone’s day-to-day life. And this has led to a remarkable rise in the number of households that are reachable through Connected TV – up to 72% in the U.S. alone, according to new research from Pixalate. One major contributing factor to its rise is the number of people who cut the cord on their expensive cable subscriptions this year. According to Roku, 60% of U.S. households either cancelled or never subscribed to linear TV, and more importantly, 92% are satisfied with that decision.
Connected TV also continues to rise in impression share when it comes to online video advertising. According to a new report from Innovid, CTV is the only device that gained a larger share of video ad impressions this year, jumping from 33% in 2019 to 41% in 2020. This brought it above digital display video impressions, which dropped to 16% this year. So what does this mean for marketers who are looking to explore the advantages of Connected TV? Consumers are still more interested in personalization than ever, with 40% making purchases as a direct result of seeing a relevant ad. And CTV has the both the targeting and creative capabilities to make that kind of personalization in video ads a reality. Ultimately, marketers who haven’t made the decision to add the power of CTV to their marketing mixes in the upcoming year will be missing out.
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