Streaming TV, which comprises television content streamed via the internet on any device, is now the most-watched form of TV across UK, France, Germany, Spain, and Italy, Magnite revealed in its latest report, which also delves into how consumer attitudes and viewing habits are reshaping the streaming landscape in what the researcher calls the “EU5.”
As streaming offerings expand in line with rising viewership, the “Streaming TV’s New Era: How Ads Are Powering Streaming’s Future in the EU5” study found that consumers’ appetite for content continues to grow. According to the analysis, 44% of streamers are watching more streaming TV this year than in 2022, 51% are watching the same, and only 6% are watching less.
Furthermore, audiences are enjoying more choices in how they consume content. While streamers in the EU5 are watching a mix of ad-supported and ad-free content, the research shows that ad-supported is considerably more popular. In fact, the majority of viewers prefer ad-supported options, as 82% watch some form of ad-supported content, with 78% watching internet delivered content across multiple devices.
Magnite’s investigation also revealed that ad-supported streaming TV viewers are watching just as many hours of programming as ad-free viewers (16 hours) each week, indicating that ads do not negatively impact engagement with streaming content.
“Streaming TV is transforming the way audiences watch television content. With the number of ad-supported viewers only set to grow, brands will enjoy new advertising opportunities as a result of these consumers’ deep engagement and cross-device consumption habits,” commented Sam Wilson, Managing Director of CTV for EMEA at Magnite
At the same time, consumers are reevaluating their streaming subscription stacks due to macro-economic pressures: 48% of streamers indicated they will downgrade or cancel a streaming TV subscription, while 76% said they would use a new free or reduced cost ad-based streaming service this year.
Regarding advertising, the report indicated that streaming TV’s premium, high-quality content generates greater recall than that of social media platforms, with 62% recalling ads on streaming TV versus only 19% recalling ads on social media. Furthermore, exposure to brands across multiple devices drives purchasing intent: 75% of ad-supported streamers are more likely to make a purchase from a brand that they engaged with across multiple devices compared to 64% of traditional TV viewers.