Study: Streaming UK’s most-watched form of TV
March 21, 2023
Sell-side ad platform Magnite’s latest research study, Streaming TV’s New Era: How Ads Are Powering Streaming’s Future in the EU5, which delves into how consumer attitudes and viewing habits are reshaping the streaming landscape, finds that streaming TV, which comprises television content streamed via the Internet on any device, is now the most-watched form of TV across the UK – and the EU5.
As streaming offerings expand in line with rising viewership, the study finds the majority of viewers gravitate towards ad-supported options and 82 per cent watch some form of ad-supported content.
“Streaming TV surged during the pandemic and our research indicates that trend has accelerated,” advises Sam Wilson, Managing Director, CTV, EMEA. “In fact, it’s now the most-watched form of TV across the UK. What’s perhaps more interesting is consumers trust ads on the premium environment that TV offers above social media. With advertisers facing increased scrutiny to invest ad budgets wisely, they too should pay greater attention to streaming TV.”
Key findings from Magnite’s UK study include:
- Streaming is the most-watched form of TV with 82 per cent of those surveyed citing it as their preference in comparison to 49 per cent choosing broadcast and 39 per cent watching paid traditional TV.
- Consumers are re-evaluating their streaming subscription stacks as a result of macro-economic pressures. 45 per cent of streamers indicated they will downgrade or cancel a streaming TV subscription, while 77 per cent said they would use a new free or reduced cost ad-based streaming service this year.
- TV offers a premium environment that can’t be replicated by social feeds dominated by user generated content with 82 per cent of ad-supported streamers saying they trust ads within TV content in comparison to only 52 per cent of viewers who find ads trustworthy on social media
- Exposure to brands across multiple devices drives purchasing intent. 72 per cent of ad-supported streamers are more likely to make a purchase from a brand that they engaged with across multiple devices compared to 63 per cent of traditional TV viewers.