September 7, 2023
Inscape, provider of ACR data from millions of VIZIO smart TVs, has revealed that the consumer shift in streaming is here to stay and the media industry should expect this trend to continue to accelerate. A rise in availability and consumer usage of streaming apps and free ad-supported TV (FAST) services has made streaming the ‘new normal’ in media consumption. This is also underpinned by the continued penetration of smart TVs themselves.
Inscape has tracked trends in streaming over the last few years. By early 2022, streaming had already displaced cable/satellite as the most-viewed TV source by US households. In the quarters since, it has steadily grown its share of viewing time and there are no signs of a slowdown.
Looking at Q2 over the past three years, streaming has captured 9.7 % of viewing share from cable/satellite for US TV households. As a result, according to Inscape’s panel that projects out viewing percentages to the US, streaming’s share of viewing has increased from 44.1 %to 53.8 % in Q2 since 2021. Meanwhile, cable/satellite’s share has fallen from 46.9 % to 37.1 % while gaming and OTA viewing share has remained relatively consistent during this time.
Powered in part by a growth in reliance of smart TV home screens – a burgeoning marketing opportunity for brands looking to reach an engaged audience – streaming apps and FAST services are at viewers’ fingertips the second they press the power button. The report found that
FASTs, which offer a free, easy entry experience across a wide variety of curated programming, continue to gain popularity among consumers. FAST viewing time increased by 70 per cent from Q2 2023 compared to Q2 2022.
As the viewing landscape continues to shift, Inscape advises that marketers, measurement providers and media owners alike need to understand where and how consumers are connecting in order to create and implement the best strategies to reach them and drive optimal business outcomes.