October 12, 2021
New data from Criteo finds that 53% of U.K. survey respondents found content on SVOD services Netflix, Amazon Prime Video and YouTube more entertaining than their linear TV counterparts.
Fifty percent of respondents said they watch more streaming content than they did before the advent of COVID-19, with 62% saying they watch more paid streaming services than before the start of the pandemic.
Criteo also found that 59% of U.K. subscribers believe streaming services provide better value for money than cable or satellite TV.
In addition to content, price factors significantly among streamers. About 33% of U.K. respondents spend more than £50 ($68) monthly on pay-TV, while 12.5% spend about the same on streaming services.
SVOD pioneer Netflix is the most popular (72%) streaming platform among respondents, with the BBC iPlayer at 68%. This compared with YouTube and ITV Hub at 47%, respectively, followed by Prime Video (45%), while 7% favor BritBox.
“While the pandemic has created massive disruption across all sectors, it is the streaming platforms that are winning big here,” Matthew Hogg, VP at Criteo, wrote in a note. “With many consumers planning to use their streaming services even more next year, we’re going to see one of the most competitive industries become even more competitive.”
Streaming remains strong entering 2022, with 29% of respondents saying they plan to spend even more time on SVOD. Generation Z and Millennials are likely (42%) to spend more time watching ad-supported free streaming services than the average consumer (29%, compared with SVOD (40% vs. 29%).
Gen Z and Millennials are more likely (44%) to spend time streaming video games compared to the general public (37%). Video is the preferred ad format, with 47% saying the ads are entertaining and engaging. Another 40% say they prefer ad variety and 37% want to see relevant information.
“As the video streaming landscape attracts even more eyeballs, next year promises to be one of the biggest years digitally for brands and advertisers,” Hogg said.