The time’s come to grab a paddle and dive in.
Connected TV, or streaming as the cool kids like to call it, has been soaring upwards on the winds of change for a while. Recent stay-at-home orders have only fueled new streaming platform subscriptions and hours spent connected devouring content. With streaming services breaking generational divides and penetrating even the Boomer audience, you can see the writing on the wall, one binge-watch at a time.
Connected TV usage totaled 2.7 billion hours according to Nielsen during the first week of March 2020. Within the first week of stay-at-home orders streaming hours spiked to 3.8 billion hours and remained there for four weeks. With people beginning to venture out of doors, thanks to loosening restrictions, traditional TV usage has begun to return to pre-CV-19 numbers, while connected TV continues to soar at 3.5 billion hours, with an 81% YoY increase on streaming devices overall. Netflix has reported already exceeding its annual subscriber goals, with a reported Q2 record of 15.8 million new paying subscribers. It’s safe to say, streaming has reached mass penetration.
Consumers have not only embraced and adopted the technology of streaming content, but they’ve come to recognize and celebrate the true quality of programming – demonstrated by ever-growing entertainment industry awards presented to streaming media providers. Near infinite choice, when and where you want it and the absence of traditional commercial interruptions only grease the gears, as consumers stray further and further from cable and broadcast programming.
As cord-cutting consumers continue to personalize and bundle their streaming services, a tremendous opportunity presents itself for marketers to engage through branded storytelling and content – en masse as well as precisely targeting niche audiences. And advertisers are taking notice, with connected TV programmatic ad buying up roughly 40% in April. With so many options – Netflix, Hulu, YouTube, CBS All Access and now Disney+, Apple TV+, Peacock and HBO Max just to name a few – premium content will be the driver used to secure desired audiences.
Big rewards await brands who can deploy highly tuned targeting capabilities, push for new and unique ways to integrate messaging into platforms and drive metrics and attribution for both offline and online sales. Finding a partner to help create dynamic content strategies, as well as creative content ideas, is the first step for brands looking to capitalize on streaming’s growing wave. Our team is chomping at the bit to help your business maximize the opportunities the streaming frontier presents.