56% of American viewers are streaming one to three hours of programming in one sitting, while 40% are streaming three or more hours at a time, according to the report "The Stream 2024: Streaming Insights for Marketers" by Tubi, Fox Corporation’s ad-supported streaming service. Consumers estimate using about four different streaming services (3.8 average), with heavy streamers (defined as those who stream 15+ hours/week) using about five (4.7 average). To keep them streaming, Tubi explained that viewers want to be able to choose from a large selection of shows and movies (69%), new or original content (61%), and different genres or categories (50%).
Moreover, the research found Americans spend an average of $120 every month on streaming services and TV packages, more than what they spend on gas ($112). With this high price tag, over half (53%) of Gen Z and millennials believe they’re overspending on streaming, with 71% canceling due to tiered memberships that force them to pay more to access certain content. Due to this situation, 58% of viewers would rather watch ads while streaming for a lower price than pay full price for an ad-free service, with 62% preferring free, ad-supported streaming overpaid. Additionally, 58% of viewers would rather have a free account to themselves than a paid subscription they have to share. The most preferred ad format among viewers is the standard ad break, similar to those on traditional TV, strategically placed at convenient plot point breaks in an episode or film (35%). Additionally, two-thirds (67%) of all viewers would rather watch an ad that’s related to the content they’re streaming.
74% of Gen Z and millennials prefer originals to remakes and are interested in seeing diversity and representation when they stream TV and movies. Additionally, 71% agree they’d like to see more TV shows and movies on streaming that are independent or from smaller creators. Nearly all (96%) of Americans are interested in nostalgia-watching streaming shows that are 10+ years old. Classic hits also continue to find new audiences among younger viewers who may be discovering them for the first time, with 67% of Gen Z and millennials turning to content that’s 10+ years old because “the style and quality is good." On the sports segment, two-thirds (68%) of the users are keen on watching live sports or sports programming, such as NFL weekly game previews (45%) or the NBA G League (31%), and 42% dedicate three or more hours each week to live sports streaming, eclipsing those watching on traditional cable and satellite TV (24%).
Finally, Tubi revealed that 71% of viewers stream content with members of their household as a form of quality time. However, many viewers also view streaming as self-care, with 68% streaming TV or movies as an opportunity to carve out alone time. Sixty-eight percent also agree: “When I’m really invested in a show, I’d rather stay home and binge it than go out to see friends.”
Finally, Tubi reported it saw 78 million monthly active users and 59% growth year-over-year in total viewing time, surpassing 8.5 billion streaming hours in 2023 on its platform. 63% of Tubi streamers are cord-cutters and cord-nevers, and 30% are unreachable on other major ad-supported streamers, according to MRI-Simmons’ November 2023 "Cord Evolution" study. Also, according to MRI, Tubi has seen 60% growth in the 18-34 demographic, 58%+ growth in multicultural demos, including Latine (67%), African American (58%), and LGBT (85%) audiences, and 64% growth in female audiences, year over year. “Viewers love Tubi because we provide frictionless access to a massive library of content where they can experience the thrill of discovering entertainment they can’t find anywhere else,” said Cynthia Clevenger, Senior Vice President of B2B Marketing at Tubi. “Tubi’s growth reflects a broader consumer shift towards ad-supported streaming, and understanding next-gen audiences is critical for us to create a differentiated streaming experience. We’re proud to extend these insights to marketers, sharing how to best connect with Gen Z and Millennials.”