TV watching today happens online.
A report from Limelight Networks Inc.
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on the state of online video surveyed more than 1,700 consumers in the U.S. and U.K. and found that 75% of respondents watch more than two hours of video content online each week. And in that, viewers prefer watching TV shows, according to the report.
Watching TV and other video content online has, as Limelight senior director Mike Milligan put it, graduated from something people experiment with, or use as a supplement, to the new norm. No longer are people waiting to watch or rushing home to catch prime-time programming.
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“And people aren’t just using laptops anymore,” Milligan said. “Video viewing will become ubiquitous throughout the day.”
Limelight is a content service provider dealing in delivering more responsive websites and applications, faster downloads and high-quality video across devices.
Nearly 60% of people who watch video online subscribe to more than one service. And despite the shift away from traditional cable TV, the survey found those who consume the most online content are more likely to pay for a cable or pay-TV service. This speaks to Milligan’s point about video viewing being ubiquitous throughout the day.
While people are increasingly opting for mobile viewing on smartphones, the crux is, consumers want to be able to find and consume the content they want on their terms, but there’s no substitute for live programming.
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According to the report, male millennials are the leading demographic when it comes to watching video online, but 20% of them would be more likely to completely cut the cord if more live sports and other programming was available to stream.
“Millennials are increasingly expecting live content to be available on any online or mobile device and are willing to pay for streaming sports programming,” Milligan wrote in his report.
Though consumers in the U.S. seem to have money on their mind when debating where to go for TV content, the survey found they are far more likely to pay for online streaming than British viewers. With the cost of cable TV continuing to be a hot topic and the debate as to whether paying for multiple streaming services is a bargain, Milligan said the industry could see more and a larger interest in skinny bundles and online cable platforms, such as Dish Network Corp.’s
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Sling TV and ATT Inc.’s
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new DirecTV Now.
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“The economies of people subscribing to cable and paying, let’s say $80… if that money is still available to them, but they can go and have the same experience with fewer channels and just the ones they, and it might be a little cheaper too; they’ll move online,” Milligan said.