Advertising, Connected TV

TV Viewership Statistics & Trends to Watch for in 2024

TV Viewership Statistics & Trends to Watch for in 2024

5 Min Read

With 2024 kicking off, now is a great time to look back at 2023’s TV viewership statistics so you can get a feel for any new and emerging trends.

But that doesn’t mean you’ll have to put on your analyst hat and spend all day crunching numbers. Here’s a list of ten key TV viewership trends and stats that you need to know about.

1. Streaming Subscription Counts Continue to Climb

Streaming has forever changed the way people consume televised content, and services like Netflix, Hulu, and Amazon Prime continue to report huge increases in subscribers. Netflix alone is fast approaching the 250 million subscriber threshold, reaching 247.2 million subscribers in Q3 of 2023.

As of 2023, there were over 205 million video-on-demand subscribers in the United States. By 2027, that figure will climb to over 217 million.

2. Connected TV Usage Grows

As of 2023, 87% of U.S. households have one or more Connected TV (CTV) devices such as stand-alone streaming devices like Roku or Amazon Fire Stick, or video game consoles. As such, you’ll have plenty of opportunities to connect with consumers over multiple CTV devices at once.

3. Viewers Are Increasingly Streaming Sports

Connected TV used to be dominated by movies and TV, but sports streaming has also stepped into the scene in a big way. By 2025, roughly 118 million U.S. viewers will be streaming their favorite sports, thanks to the medium’s convenience and ease of access.

4. Cord-Cutting Continues

Cord-cutting — canceling cable TV subscriptions in favor of streaming services — is a practice that is showing no signs of slowing down. In fact, by 2026, it’s estimated that over 80 million U.S. households will have cut the cord. While that is certainly bad news for traditional cable providers, it’s ultimately a trend that will create even more favorable conditions for streaming platforms and CTV advertisers going forward.

5. Linear TV’s Popularity Declines

Linear TV, the traditional method of broadcasting television content at set times, is steadily waning in popularity. A recent Nielsen report highlighted a consistent decrease in linear TV viewership and a subsequent rise in streaming views — streaming accounted for 38.7% of total TV usage in July 2023, with acquired titles surprisingly outperforming new and original streaming content.

6. People Actively View More Ads on CTV

Connected TV has a much higher completion rate than other formats. Over the last three years, CTV viewers have averaged completion rates of 96-98%, meaning they finish watching most of the content they start streaming (and thereby watch more ads, depending on their subscription tier).

7. Targeted Advertising Keeps Going Strong

In 2022, CTV advertising in the U.S. exceeded the $20 billion threshold. Therefore, as more brands than ever before flock to CTV, you’ll need to follow suit to maintain your edge.

Since CTV blends the reach of traditional television advertising with the tracking capabilities of digital marketing channels, you’ll be able to gather detailed insights about your audience and target niche groups, making CTV one of the most valuable advertising mediums in 2024 and beyond.

8. Viewers Prefer Varied Storytelling

Viewers enjoy streaming content via Connected TV, but if you want to keep them engaged and attentive when your ads come on, it’s vital that you get creative and embrace variety.

Approximately 67% of consumers want to see variety in ad storytelling. This means that mixing up the tone and delivery of your message can help reduce ad fatigue and boost engagement.

9. Viewers Also Don’t Mind Ads

Though you may assume that consumers are shifting to CTV because they are sick of commercial breaks, that’s not necessarily the case. In fact, there are several factors that are fueling cord-cutting trends, ranging from saving money to enjoying the convenience of accessing their favorite shows on-demand while, in some cases, skipping some ads.

Nevertheless, 69% of consumers state that they will never skip an ad if it’s showcasing a service or product they are already interested in. With that said, if you are targeting the right audiences, they’ll probably sit through your ad, and if it happens to be funny or visually engaging, they’ll likely remember it, too.

10. Almost All U.S. Households See Programmatic Ads

98% of internet-connected U.S. households can be reached via Connected TV programmatic advertising. In other words, CTV ads have the potential to reach 98 out of every 100 U.S. households that have internet access.

Improve Your ROAS With MNTN Performance TV

Familiarizing yourself with each of these TV viewership trends will help you set the stage for CTV marketing success in 2024. But, if you want to maximize your return on ad spend (ROAS) and make every marketing dollar count, you need a CTV advertising platform that puts you in control of every campaign — that’s where MNTN steps in.

With MNTN, you’ll enjoy access to premium CTV inventory, creative solutions, automated tools, industry-leading measurement and attribution, and user-friendly reporting capabilities. From ad planning to post-campaign reporting, you will be able to customize every detail of your CTV content.

Want to learn more? Book a demo today and check out MNTN for yourself.

As you prepare for 2024, understanding current TV viewership statistics and trends will help you determine where to focus your CTV marketing resources so you can maximize reach and ROAS. The future of CTV advertising is filled with opportunities, but it’s up to you to capitalize on them.