February 16, 2022
The ongoing consumer migration toward televisions connected to the internet finds that 68% of CTV viewers use at least one live streaming video device, while also engaging with the commercials. Citing a proprietary study, “CTV Live Streaming: TV’s Next Big Moment,” Magnite Research found that a majority of survey respondents are gravitating toward living TV streaming.
The survey was fielded online within the United States from Dec. 23-30, 2021, among 1,500 adults between the ages of 18 and 64 who watch at least seven hours of television per week.
“We commissioned this study to better understand how people access and interact with this [streamed] content,” Sean Buckley, chief revenue officer at Magnite, said in a statement.
Buckley said the data suggests that engagement with live video content extends to the advertising that airs alongside it.
“With more audiences tuning into live-TV via streaming, it’s another indicator that advertisers should be actively exploring this channel,” he said.
While 22% of cable subscribers surveyed in the study said they plan to cancel their pay-TV service within the next six months, 44% said they would cancel if they could access live sports and events through streaming.
Magnite contends the feedback shows that greater awareness and education around live streaming content may spur more cable subscribers to adopt streaming services in place of or in addition to their existing cable service.
Indeed, respondents who stream live sports showed higher levels of acceptance for advertising. Nearly half of live sports streamers (49%) agreed with the statement: “TV ads are an important part of my TV watching experience,” and 62% of live sports streamers said they had discovered new products as a result of watching ads on streaming services.
“CTV is a premium viewing experience with highly engaged audiences that can’t be reached via traditional linear and pay-TV,” added Diana Horowitz, SVP of advertising sales at FuboTV, a sports-themed online TV platform. “Historically live sports kept audiences tied to their cable subscriptions. That’s no longer the case with … marquee events and regional sports networks widely available on CTV platforms.”
Horowitz said 90% of FuboTV viewers watch live content, and 93% of sports content on the platform is viewed live. Other data contends that live sports streamers are likely to watch multiple ad-supported services with an average of 3.6 sports apps.
Sports fans prefer to watch live over watching on demand — 70% of live sports programming is watched in real time. About 67% sports streamers pay more attention to ads that match their lifestyle and interests.