Back in April, we posted an article about media channels that are thriving in the current climate. One of those in particular – Connected TV – shows no signs of slowing down anytime soon. More than 70% of Americans watch video on a Connected TV device every day, and the average daily time spent with digital video in the U.S. is expected to grow to 2+ hours per day – an increase of nearly 20% over last year.
The recent spike in digital video usage can be attributed to three main factors:
Cutting the cable cord (figuratively). The cancellation of live sporting events and need to save money has driven more consumers to give up cable, with digital video proving to be a viable, lower cost alternative.
Stay at home orders. Time spent with digital video increased across all devices as consumers were forced to spend more time at home, with Connected TV showing one of the largest increases. “On April 4, Americans watched 27 billion minutes of streaming content on TV — 50,000 years of content in just one day.” (Brian Fuhrer, Nielsen)
New streaming services. Disney+, AppleTV+, Quibi, NBC’s Peacock and HBO Max have joined the ranks of Netflix, Amazon Prime Video, and Hulu to give consumers even more access to premium content.
At the end of 2019, 50% of advertisers planned to increase Connected TV spending, and recent trends support that decision. If you’re a digital marketer who has not yet explored the potential of Connected TV, now is the time to capitalize on this rapidly growing channel.
Sources: eMarketer, Zeta Global