Video Hits the Tipping Point
More than half of the U.S. population now watch some form of streaming video at least once a week.
According to the recently released GfK report (How People Use® Media: Over-the-Top TV), the weekly streaming audience for TV and movies rose to 51 percent this year, showing a marked increase from the 37 percent penetration three years ago and 48% mark in 2012.
Tablets and smartphones are playing a big role in the consumption of video. GfK reported that 5 percent of consumers now use a tablet to watching streaming video of TV programs or movies on a weekly basis, while 4 percent use a smartphones.
“The synergies between consumers and their connected devices are radically transforming video entertainment,” said David Tice, Senior Vice President of GfK’s Media and Entertainment team. Streaming video is giving consumers more and more control over their viewing – and forcing content providers to reinvent their business models. As broadband connections and mobile devices continue to improve, this trend is bound to accelerate, creating a host of opportunities for those who can think ahead of the next technology.”
The report also shows significant differences in streaming video use among different generations. While almost two thirds (62%) of Generation Y consumers (ages 13 to 33) watch streaming TV or movies weekly, the figure drops to 46% for Generation X (ages 34 to 47), and to 30% for Boomers (ages 48 to 54).