A new report has found that streaming is dominating the UK TV landscape, but that Brits have a hard cap when it comes to paying for SVOD services.
According to The Trade Desk, 73% of Brits are now streaming video content, with 84% of 18-34-year-olds favouring streaming over traditional TV. The report also notes that Brits spent 40% more time watching streaming and catch-up content compared to last year, while traditional TV viewers spend 47 per cent less time watching linear TV.
Cost is increasingly becoming a factor however, with 54% of Brits admit to account sharing. Furthermore, 40% of Brits surveyed said they would not spend more than £20 per month on streaming services, while 23% said they would outright not pay for video content. Some 29% of Brits say that cost is the primary reason why they had or would unsubscribe from most platforms.
This opens up the path for free ad-supported TV (FAST) platforms like Pluto TV and ad-supported tiers of SVODS, with 51% of Brits saying they are open to a free service funded by advertising or a cheaper version with cost offset by some ads, versus a costlier subscription-based platform.
Dave Castell, TV partnerships lead at The Trade Desk, said: “The TV landscape is undergoing a transformation that’s redefining the viewing experience, as well as the advertising industry as a result. The rise of streaming has ushered in a new model of TV consumption, in which every content creator is providing the consumer with choice. And consumers expect to watch what they want, when they want, and how they want. This unlocks greater opportunities for advertisers to connect with new, diverse audiences than they’ve ever had before.”
News Source: Digital Tv Europe