It is a global survey of 2,562 consumers in the US and the UK in the summer of 2020. “We work with accredited panel providers in every market to recruit a demographically-represented panel. We have also conducted the research in Germany and will be rolling the research out to APAC markets as well,” he added.
Charlene Weisler: How often is this study conducted - are there any comparisons pre and during the pandemic?
Terence Scroope: This was the first time we have conducted this specific survey, but we have a long history of data and research including our recent consumer behavior survey at the start of COVID-19, which showed US consumers increasing their media consumption significantly — particularly across mobile and CTV formats.
Weisler: What were the takeaways and were there any surprises?
Scroope: We found three major takeaway toplines – that CTV is more effective than Linear TV in driving consumer behaviors, that 35% of US consumers have tried a new ad-supported streaming service since outbreak of COVID-19 and that 42% now plan to cancel Cable TV.
It was interesting to see that more than a third (35%) of US consumers have tried new ad-supported content since COVID-19, with 79% saying they will continue to do so. Also, it was clear from the research that CTV crosses all ages, and is not just something that Millennials are drawn to. Also, it was interesting to see that US consumers are more likely to take positive actions — including searching, purchasing and improved brand favorability — after being exposed to CTV ads compared to linear TV. The presence of ads is not seen as a negative for consumers, with only 21% of people who pay for subscription services doing so to avoid ads.
Weisler: Any differences by age or gender or region?
Scroope: We discovered that CTV consumption has mass appeal across all age groups. 74% of 35-44 year olds actively seek free ad-supported TV content, followed by 71% of those ages 45-54 and 63% for those 55+ — these groups were actually more likely to seek free ad-supported TV content than younger generations 25-34 year olds (62%) and 18-24 year olds (57%). While the US market is the most mature when it comes to CTV adoption and offerings, we are seeing some global markets quickly catching up.
Weisler: What do you think this bodes for the future of linear? And of CTV?
Scroope: Based on the convenience CTV offers, and the increased usage we’re seeing, I think it’s safe to say that CTV is here to stay. As media buyers move from buying shows and broad segments to buying specific audiences, the wealth of data and the addressable nature of CTV will make it a far more valuable proposition moving forward.
Weisler: How should marketers re-apportion within the next year and three years from now?
Scroope: We expect the trend of adoption to continue upward, and as more viewers cut cable and limit paid subscriptions, there will be an increasingly distinct audience that is only available within CTV. We may also see some evolution in monetization models, as some subscription services are already testing out ad supported formats in foreign markets.
This article first appeared in www.Mediapost.com
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