Canadian consumers were quick to adopt streaming content on connected TVs at the onset of the pandemic – marking the start of a substantial shift in TV viewership. Now, there is an ongoing second shift where consumers are moving away from some of those paid subscriptions and increasingly opting for free, ad-supported content instead, according to a new report from LG Ad Solutions.
“In tandem, and consistent throughout the transformation of the TV experience, there is a strong desire for more personalized ad experiences that deliver timely and relevant information with ease. Unlike traditional television, Connected TV has the power to reach and engage audiences on the biggest screen in the home with compelling, interactive ad experiences. With the right media mix and targeting strategy, brands can give viewers the experience they want while driving brand engagement, conversions, and sales,” commented Jason Randall, Country Manager, Vice President of Sales, Canada at LG Ad Solutions.
According to "The Big Shift - Wave II (Canada)" report , economic concerns are impacting subscriptions in Canada, as over 1 in 3 viewers have canceled a streaming service to save money. That might explain why Canadian TV viewers are streaming more free ad-supported TV now. In fact, 61% Canadians prefer to stream free content rather than paying for a subscription, a positive 5% change from 2022.
At the same time, viewers continue to shift away from linear TV with over 1 in 4 viewers saying they are watching less linear than 12 months ago. For Canadians, more choices mean shifting between major subscription services. LG Ad Solutions noted that 87% currently pay for one or more streaming, and 55% are willing to cancel a subscription after watching the desired content.
However, over half of Canadian TV viewers feel overwhelmed by the amount of content choices available to them. There is an average of 7.5 minutes spent between turning on the TV and watching content, relative to 5.7 minutes for US audiences. Furthermore, 39% take more than five minutes to select something to watch, while 18% take more than ten minutes.