Over two-thirds of British viewers prefer streaming to broadcast TV | Media Analysis | Business | News | Rapid TV News
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A study from independent omnichannel sell-side advertising platform Magnite, has found that half (51%) of UK viewers’ time spent watching TV takes place on streaming channels, and if they could only keep one, over half (55%) would choose streaming services versus broadcast linear TV (45%).
Magnite CCT 7March2021
Magnite’s CTV: The Future Forward examined the opinion of 10,500 consumers across the UK, France, Germany, Spain and Italy, looking at how audiences are consuming TV and examining the opportunity for marketers seeking to connect with engaged audiences as the shift to connected TV (CTV) accelerates and consumer behaviour evolve.

The fundamental trend was that there was increasing adoption for CTV services especially in the UK which leads in terms of CTV adoption in the five EU5, according to the report. Among the five countries surveyed, almost seven in ten (69%) UK consumers preferred streaming services to broadcast linear TV (31%) while nearly nine in ten (89%) UK respondents reported using a streaming service at least once a week and three-fifths (61%) watched daily. UK viewers tuned into subscription (SVOD) and ad-supported (AVOD) streaming services almost equally, showing that advertising was not a barrier to adoption, with three-quarters watching both subscription video-on-demand ( SVOD) and advertising video-on-demand (AVOD) weekly.

Currently, half of UK TV audiences said they turned to streaming channels ahead of broadcast. When delving into the different consumption patterns between CTV and broadcast channels, the study found that three-fifths (62%) of viewers watch broadcast TV out of habit, whereas three-fifths (62%) of respondents choose CTV as their default service because it boasted their favourite shows and half (51%) enjoy the greater variety of content. When looking at streaming behaviour by age, the preference was even more pronounced. Nearly seven in ten (70%) Millennials and GenZers were found to go directly to streaming channels first over broadcast.

Over two-thirds (67%) of respondents said they would be willing to pay more for streaming services, indicating said Magnite a healthy appetite for additional streaming content. For these consumers who would increase their streaming budget, the average maximum monthly budget was identified as £32, up from the current average monthly spend of £25. UK audiences were though still budget-conscious and over four-fifths (85%) said they preferred to watch advertising in exchange for free or reduced-cost streaming services. Over three-quarters (77%) indicated that they would switch to a free or reduced-cost, ad-based tier of a paid streaming service if available.

The ramifications for these trends said the company was that over three-fifths (63%) of UK consumers were receptive to CTV advertising, especially those that relevant to the show they were watching (77%), relevant to hobbies or interests (75%), or related to online searches (58%). Furthermore CTV was seen as a key driver in encouraging consumer action signalling the major potential of the platform to deliver on campaign goals. Just over three-quarters (78%) of the sample had taken an action after exposure to a CTV ad – including online searches and purchasing an advertised product or service.

“We’re experiencing a seismic shift in how individuals are consuming content,” said Julie Selman, UK managing director at Magnite commenting on the trends revealed in the study. “The research demonstrates a significant change in consumer behaviour, with more than half (54%) of UK viewers watching more CTV content now versus a year ago. This acceleration in CTV adoption creates a huge opportunity for advertisers to use the power of CTV to connect with consumers, and reach people where they are enjoying content they love.

“Our latest research shows that CTV is more than a brand-building opportunity for advertisers and that CTV exposure leads audiences to take concrete actions. Two-fifths (39%) of viewers recognise that addressable ads are the future of TV advertising. As more marketers learn to harness the addressability opportunities that are available through streaming TV, I am confident we will see TV emerge as a premium, brand-safe, performance marketing channel.”