Traditional TV Is Losing the Battle of Convenience, Quality and Selection
New research from E-Poll Market Research shows that U.S. consumers see many advantages to streaming video on demand (SVOD) and “Over The Top” (OTT) content compared to traditional broadcast and cable television that both helps explain the current decline in TV ratings, and projects further challenges for the incumbent delivery services.
With the “NewFronts” and “Upfronts” for the Fall TV season in full swing this month, advertisers are keenly aware of the shifts in digital content discovery patterns, and as the availability and quality of SVOD and OTT continues to penetrate the market, they will be deciding where to place their bets to reach their targeted consumers.
In a rapidly changing landscape, here are the very latest findings that are uncovered in this study:
Convenience is King – STREAM what you want, WHEN you want it
- More than 70% of SVOD subscribers stream TV programs during Primetime hours, effectively cutting into viewing of traditional TV.
SVOD and OTT Programming quality has already surpassed the networks
- Netflix subscribers think Netflix original programming is better than traditional TV at a rate of six to one.
- Among the main services, more than 85% of subscribers say that quality of SVOD original programming is as good or better than network programming.
“Binge” viewing is better than seasonality
- Binge viewing is the preferred method of watching TV series, with more than two-thirds of all viewers (75% of Millennials) saying that having a full season of episodes available makes their viewing experience “more enjoyable.”
- More than half of TV viewers say they have waited for a full season of episodes to be made available before viewing their favorite shows. While the “bingers” are storing up shows, there is an opportunity for new shows to be sampled during this period so placement and timing of program campaigns is critical.
The data comes from the first wave of E-Poll’s new survey called “Streaming, OTT & Binge Viewing: The New TV Landscape.” Conducted quarterly among users of streaming and SVOD services, the survey provides subscribers early insight into content consumption and consumer behavior across various digital distribution platforms including Netflix, Hulu Plus, Amazon Prime, YouTube and other SVOD services.
The Streaming, OTT & Binge Viewing Tracker offers the opportunity to discover the “white space” in the streaming landscape. It also delves into attitudes toward specific programs originating on Netflix, Hulu Plus, Amazon Prime and other services, plus perceptions of current TV service providers.
The survey was conducted among 1,156 persons ages 13-54 who have streamed a full-length TV program in the past six months, with general representation across income, age, education and geographic demographics to represent a cross-section of the U.S. population. The first wave of the study was conducted in the first quarter of 2015 and the second will be conducted in mid-May.