As the assorted platforms battle for video streaming supremacy, their rivalry has ignited a speedy growth within the quantity of content material obtainable to shoppers.
In line with the Whole Viewers Report launched in the present day by Nielsen, as of December 2019, U.S. shoppers may select from 646,152 distinctive program titles obtainable on conventional linear and streaming providers. That’s a rise of 10% from 2018, based on Nielsen.
That explosion of viewing selections is only one of some ways the streaming wars are reshaping viewing habits.
“The proliferation of on-demand streaming providers is essentially the most profound media disruption of the final half-century,” wrote Peter Katsingris, Nielsen’s senior vice chairman of Viewers Insights, in an introduction to the report. “And this disruption is driving profound, actual, actionable alternative throughout all sides of the trade.”
Whereas Netflix, Amazon Prime, and Hulu have been providing subscription video streaming providers for greater than a decade, a bunch of main gamers have joined the scrum previously yr. Exercise consists of Apple’s launch of Apple TV+ and the introduction of Disney+. And new entrants will quickly embrace HBO Max, the short-form streaming service Quibi, and Peacock from NBCUniversal.
Reasonably than choosing and selecting, shoppers are opening their wallets extensive and begging corporations to take their cash. Nielsen’s report initiatives that whereas shoppers spent about $600 million on video and audio content material in 2019, that quantity is projected to develop to $1 trillion by 2023.
This development is feasible as a result of video streaming nonetheless accounts for a fraction of the time spent viewing content material, round 19% for households which have some capacity to view such providers through a sensible TV or pc, based on Nielsen.
Within the U.S., Nielsen discovered that 73% of households now have some sort of video streaming subscription service, and about 33% have three or extra streaming providers.
Amid a frenzy that encompasses each audio and video streaming content material, shoppers are merely spending extra time glued to their screens.
In line with Nielsen, the typical shopper now spends a complete further day every week watching or listening to some type of digital media content material, in comparison with six years in the past. In Q3 2019, we spent 11 hours and 54 minutes every day interacting with our devices, together with TV, TV-connected gadgets, radio, computer systems, smartphones, and tablets. That represents a rise of 1 hour and 24 minutes from Q3 2018.
Content material makers and advertisers are salivating.
“That may be a large amount of the waking day for shopper connectivity, so this period of time is very eye-opening,” the report notes. “Entrepreneurs and content material creators have actually each waking hour of a shoppers’ day to place forth their greatest messages.”