Brightcove published its “Q2 2020 Global Video Index Entertainment and Media Edition,” which indicates that OTT streaming of entertainment content continues to dominate media consumption overall, even as stay-at-home restrictions are loosened. The data suggests that consumers’ media consumption habits may potentially be shifting away from linear TV, and leaning towards streaming platforms for entertainment. “The streaming industry is exploding faster than we’ve ever seen before,” Jim O’Neill, Principal Analyst, and Author of Brightcove’s Global Video Index said. “While much can be attributed to Covid-19 keeping people indoors, stay-at-home orders do not account for the entirety of recent growth."
The analyst's study analyzed hundreds of billions of recent data points from the online video platform provider’s global customer base to provide insights into how viewers are watching video content. The report shows that consumption of news and entertainment content nearly doubled to 40% from Q1’s 23%. Comparing the first half of 2020 to last year, the number of views overall is up more than 30%.
The platforms consumers are using towatch has also changed. Connected TVs (CTVs) saw the most growth in Q2, 160% year-over-year, indicating a resurgence in larger screens as the viewing medium of choice for entertainment. Video views on CTVs were up 42% in Q2; 45% in April, 37% in May, and 44% in June. For the first six months of the year, views on CTVs grew 49%, the second-biggest gain among devices. CTV viewers also watched content more than 3x as long as on any other device. “There has been significant growth within the video industry, leading to more video content streaming as a whole; OTT services like Netflix added nearly 26 million viewers and Disney+ topped 54.5 million subscribers in Q2,” O’Neil said.
Consumption peaked right before states began reopening. Video views were up year-over-year with April seeing the biggest increase in consumption at 103%. Every type of device saw a surge in use. CTVs, smartphones, tablets, and computers saw gains exceeding 80% in April. May saw an increase of 39% and June was up 53%. CTV viewing had the strongest gains. CTV views jumped 428% in the first half of the year compared to a year ago. The pandemic increased smartphone video starts by 37%. “The crisis has impacted people at an emotional and financial level, making the need for human connection through video content more crucial than ever," Brightcove CEO Jeff Ray said. "We’re seeing this play out with the rise of streaming services subscriptions, indicating that the future of entertainment consumption lies in connected and mobile devices, linear television could soon be of the past.”
The crisis has impacted people at an emotional and financial level, making the need for human connection through video content more crucial than ever. We’re seeing this play out with the rise of streaming services subscriptions, indicating that the future of entertainment consumption lies in connected and mobile devices, linear television could soon be of the past.” Jeff Ray CEO, Brightcove
