April 7, 2021
New data from Hub Entertainment Research shows that smart TVs are now in a large majority of TV homes, and account for over half of all TV sets.
The findings underscore the fact that in the streaming video ecosystem, how consumers access content is changing.
Ownership of a smart TV set is at 70% of TV households this year, a notable milestone in their adoption. Overall, 52% of all TV sets are now reported to be smart TVs, up from 45% in 2020. This indicates accelerated replacement of older, non-smart TVs with smart TVs. Homes with kids or younger adults are more likely to own smart TV sets. Greater proportions of smart TV ownership are found in homes with children under age 18 (59% of all sets are smart TVs), or in homes where the oldest person is under age 35 (61%).
These findings are from Hub’s “Connected Home 2021” report, based on a survey conducted among 5,000 U.S. consumers. Interviews were conducted in February and March 2021 and covers consumer ownership of many types of media-related technologies.
During the pandemic, the numbers reversed: Only 29% said they planned to buy at a retail store, while 43% planned to buy online.
“The wider adoption of smart TVs and replacement of non-smart TVs turns up the pressure on connected devices like streaming boxes, streaming sticks, and video game consoles,” David Tice, senior consultant to Hub and co-author of the study, said in a statement. “This ‘eliminating of the middleman’ will have a direct impact on how future revenue is split on advanced TV businesses like streaming, interactive shopping, and addressable advertising.”