New research came out from Parks Associates that finds TV sets still dominate home entertainment, accounting for over one-half of all video consumed by US broadband households each week. Plus 360 View: Digital Media and Connected Consumers reveals consumers report spending on average nearly 20 hours per week watching video on a TV, compared to nearly four hours on a mobile phone. Consumers also increased the total amount of time spent watching video from 2018 to 2019, a 33% increase in hours spent per week in video viewing.
This doesn’t surprise me much as TVs are becoming less expensive to buy. People now can buy a 55inch, 4K, smart TV for less than $500. By having a smart TV at home, you can basically do everything a phone can.
“Understanding consumers is key to driving acquisition and minimizing churn among video services,” said Steve Nason, Senior Analyst, Parks Associates. “Different demographics show markedly different attitudes and preferences. NPS scores for Netflix are higher among women, while NPS scores for premium OTT services such as Starz, Showtime, and HBO Now are higher among men. Younger video consumers represent the future of the industry, but their programming and platform preferences are distinct from older segments, which puts traditional pay-TV providers in a difficult position. Changing the traditional pay-TV service model could alienate older, high-ARPU customers, but not changing could doom future prospects.”
The research also found that consumers ages 18-24 watch as much video on a computer as they do on a TV set (approximately 16 hours per week). One-half of US broadband households subscribe to Netflix. Amazon Prime Video is a distant second with a 38% adoption rate. One-fifth of broadband households use the free version of streaming music service Pandora and Consumers 18-34 spend nearly five hours per week listening to podcasts.