Internet household spending on streaming subscription services has declined 25% to US$73 per month versus US$90 in 2021. Meanwhile, nearly one-third (31%) of households used free ad-based services by the end of 2022 – posting the fourth consecutive year of market share growth since 2019, according to new research from Parks Associates.
Parks Associates and Adeia are presenting a joint webinar entitled “AVOD, FAST, Freemium: Effective Advertising in the New Video Landscape,” on September 19. The webinar will provide insights into the seismic shifts occurring in the media and entertainment landscape, as consumers respond to uncertain economic realities. It will assess efforts by streaming providers to achieve and maintain profitability through yet another period of change and disruption.
Furthermore, the webinar will provide insight into the changing relationship between consumers and video content, as more options enter the market and younger demographic consumers shift to viewing video on devices. Parks Associates and Adeia will present research and insights from the just-published white paper, “Overcoming Complexity: Advertising in a Fragmented Landscape,” and discuss how advertising is evolving to accommodate new ad-supported streaming models and privacy practices for a more engaging and targeted experience.
“Leveraging data to provide relevant content and digital advertisements to keep viewers engaged is crucial and tricky. Data is fragmented across operating systems and applications, and viewer consent is required. The next generation of TV and CTV advertising should not replicate traditional linear, pay-TV ad formats and models but offer interactive, actionable, secure, and enjoyable experiences that engage video viewers and attract ad dollars,” said Jennifer Kent, VP, Research of Parks Associates.
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