What, you mean someone studied the OTT consumption habits of consumers stuck at home in front of their TVs during the pandemic?
OK, after peddling in this content for months, we’re as fatigued as anyone by these reports. But this latest survey of 2,000 U.S. consumers from London-based cloud video technology company Grabyo has some interesting numbers.
Americans are spending an average of $1 billion a month more on video streaming since Grabyo polled U.S. consumers back in January.
Amid the pandemic, video streaming services have reached 72% penetration into American homes, up 13% since January. Pay TV currently has 56% penetration, the firm claims. Sixty-five percent of U.S. video customers aged between 50-64, and 50% of those 65+ years, now pay for online streaming.
Notably 85% of streaming customers say they’re planning to keep the same number of subscription services even after the social distancing period ends.
“While the U.S. was already in front of the curve for streaming adoption, the COVID-19 pandemic has further accelerated this trend,” said Gareth Capon, CEO at Grabyo. “With most of the U.S. population staying at home, consumers have had the chance to watch more TV, trial new streaming subscriptions and discover which services offer the most value. Our findings show that online streaming has come out on top across all consumer segments and these changes in the market are here to stay.”
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Daniel Frankel is the managing editor of Next TV, an internet publishing vertical focused on the business of video streaming. A Los Angeles-based writer and editor who has covered the media and technology industries for more than two decades, Daniel has worked on staff for publications including E! Online, Electronic Media, Mediaweek, Variety, paidContent and GigaOm. You can start living a healthier life with greater wealth and prosperity by following Daniel on Twitter today!