Consumers worldwide spending 20% of daily life watching videoTuesday, January 9th, 2018
Hooked on Entertainment: TiVo Survey Reveals Consumers Worldwide Are Spending 20 Percent of Daily Life Devouring Video
- TiVo’s Global Consumer Trends Study Finds Viewers are Building A La Carte Entertainment Experiences that Work Best for Them
LAS VEGAS — TiVo Corporation (NASDAQ: TIVO), a global leader in entertainment technology and audience insights, today released findings from its annual multi-country study that explores viewer engagement with the video content, services and devices that shape the evolving consumer entertainment experience. The study, which surveyed 8,500 pay-TV and over-the-top (OTT) subscribers across the U.S., Europe and Latin America, revealed that the average global viewer spends 4.4 hours each day watching video. Coupled with the global average of 28 minutes spent each day searching for content to watch, that is nearly five hours per day of video engagement, which amounts to 20 percent of daily life.
The TiVo study also found that about 90 percent of households are currently paying for traditional pay-TV service. However, more than 60 percent are also subscribing to streaming video services like Netflix, Amazon Prime and Hulu.
The traditional pay-TV subscriber base is increasingly comprised of longer tenured customers.
In the U.S., more than 50 percent of pay-TV subscribers have been with their service for four years or more. Subscribers with the shortest tenure are also the least dependable: more than 10 percent of those who have subscribed to cable for a year or less say they’re very likely to cut the cord in the next six months.
It’s not just the amount of content that’s exploded in the last few years. People now have more screens than ever at their disposal to watch their favorite videos. Nowhere is this truer than in Latin America, where 50 percent of all viewing now takes place on a digital device other than a television set, according to the study. By way of comparison, viewers in the U.S. say that more than 75 percent of their video consumption still occurs on their TV.
“Consumers today are acting as their own aggregator, piecing together what they need from a variety of video service and device combinations to suit their individual needs,” said Paul Stathacopoulos, vice president, Strategy, TiVo. “Success in this new environment will not be about a single content source monopolizing the living room, instead it will be about adapting the business model to deliver value, integrated services and personalization to meet the evolving consumer needs.”
The research findings were the result of an online survey, conducted by TiVo, of 8,500 pay-TV and OTT subscribers across seven countries worldwide with 2,500 interviews completed in the U.S., and 1,000 interviews completed each in the U.K., France, Germany, Brazil, Mexico, and Colombia.
Links: TiVo Corp