Samba TV, a provider of omniscreen advertising and analytics, has released its latest "State of Viewership Report" for the first half of 2024. The report analyses approximately 45 billion hours of linear and streaming television consumption and uncovers significant trends and opportunities shaping the television and advertising landscapes.
Among its findings, the report highlights an emerging role for AI within measurement for brand sponsorships, strategies for releasing new shows on streaming services , and the importance of optimising cross-screen advertising campaigns through new AVoD and FAST platforms. As the 2024 election season intensifies, political advertisers in particular need to employ comprehensive data strategies to efficiently reach diverse voter segments and drive ad effectiveness. Non-political advertisers should anticipate a significant increase in CPM-rates from now until November for highly coveted ad inventory and platforms that reach potential voters in swing states.
Ashwin Navin, co-founder and CEO of Samba TV focused on the transformative process of AI: “The AI hype cycle has passed, but AI transformation has just begun. In this evolving landscape, and on the brink of a transformative election season, now it is more important than ever to employ a cross-channel strategy for audience outreach and measurement. Streaming video platforms are innovating to retain viewers while fighting tooth and nail for engagement in the war for attention, while collectively eroding the base of linear. The advertising market focused on linear and CTV formats is seeing stability, particularly in the pharmaceutical and health sectors, but we are seeing declines from the entertainment vertical, as some advertisers shift their mix to social and digital media," explained.
Let's review some of the key points of the analysis. In the first half of 2024, there was a significant increase in OTT viewership in the US, with a 40% rise compared to 2023, while linear TV consumption saw a slight 1% decline. This shift is driven by younger audiences gravitating towards streaming platforms and the growing trend of cord-cutting. Advertisers are increasingly focusing on FAST and ad-supported SVoD options to reach these audiences, as streaming TV becomes more prevalent, with 99 million US households consuming OTT content. However, the challenge of preventing churn remains, as many viewers tend to cancel subscriptions after watching a single piece of content.
Despite the decline in linear TV, live sports and political events continue to attract large audiences. The 2024 Super Bowl had the highest viewership since before the pandemic and was the most-watched linear event in the first half of 2024. The first presidential debate between Trump and Biden was the most viewed non-sports program, underscoring the importance of news and political events in retaining linear TV viewers. On the streaming side, drama was the most popular genre, with crime and mystery genres also gaining prominence. Also, all of the top 10 streaming shows were based on existing franchises, highlighting the power of established IPs in driving streaming success.
Finally, in terms of advertising, the entertainment industry leads in ad impressions, accounting for 18% of total impressions across both linear and OTT platforms. The pet industry is also increasing its presence in advertising, adapting to the evolving media landscape.
