TiVo, a wholly owned subsidiary of Xperi, recently announcement the latest findings to their Video Trends Report, which uncovers key trends relevant to TV providers, digital publishers, advertisers and consumer electronic manufactures.
Since 2012, TiVo has surveyed consumers to identify and analyze key trends in viewing habits and provide insights to consumer opinions regarding Subscription Video on Demand (SVOD), Transactional Video on Demand (TVOD) and Advertising-Based Video on Demand (AVOD) providers, emerging technologies, connected devices, over-the-top (OTT) apps and content discovery features, including personalized recommendations and search.
The latest report finds that the average number of video services used by consumers has surpassed double digits for the first time, since 2012, up to an average of 11.6 video services from 8.9 a year ago and 9.9 in Q2 2022. According to the report this growth is occurring despite subscription video on demand (SVOD) usage dropping; 26.6% of respondents dropped at least one SVOD services over the last 6 months, an increase of over 8.0% year over year. The video services growth is soaring due to an increasing usage of ad-supported video on demand (AVOD) and free ad-supported streaming TV (FAST).
The report uncovers many other TV, streaming and viewing patterns. A few of the noteworthy highlights include:
- More than half of respondents (53%) prefer when the whole season of a TV show is available at once, compared to only 24.7% who prefer episodes to be released one per week.
- During Q4 2022, there was a strong difference among men and women in consuming content, with women reporting a strong preference for the opportunity to binge a whole season (61%), whereas men report a stronger preference for the weekly release schedule (60%).
- When examining the increase of video services, there are some glaring differences among service consumption when it comes to age groups. Millennial respondents consumed significantly more than any other age group with an average of 16.3 sources compared to Gen Z with 12.7 sources and Gen X with 12.2 sources.
- While the recent pattern of economic inflation has caused 30% of respondents to reduce their overall entertainment spending, almost three-quarters of respondents (74%) say they’re slightly or much more likely to look for entertainment at home than going out.
Read the full report and dive further into the results, find the Video Trends Report here.