The future of broadcast TV.
According to eMarketer (link resides outside IBM), forecasted TV viewing time in 2023 will continue to decline. In 2021, the average viewing time of TV was 3 hours and 17 minutes, where it is estimated to backslide to about 2 hours and 51 minutes in 2023.
According to MarketingCharts, May 2021 data from Nielsen shows that TV households were spending more time streaming than they were watching broadcast TV. In June 2022 (link resides outside IBM), data from Nielsen showed this trend continuing, with streaming claiming one-third of television viewing time. In November 2022, this figure rose to 38.5% (link resides outside IBM). eMarketer has also estimated that by 2024, the number of these households will grow even further, reaching 46.6 million resulting in more than a third of all U.S. households no longer having pay-TV. Although streaming does represent a large margin of all television views, it’s important to remember that the market still consumes other forms of TV. In November (link resides outside IBM), broadcast represented 25.7% of viewing time, while cable accounted for 31.8%
Broadcasters must adapt to these changes to stay relevant. Identifying the key changes and emerging trends in broadcasting will help those in the industry determine how to adjust their media strategies, what tactics will most likely lead to success and how to better prepare for the future.
According to MarketingCharts, May 2021 data from Nielsen shows that TV households were spending more time streaming than they were watching broadcast TV. In June 2022 (link resides outside IBM), data from Nielsen showed this trend continuing, with streaming claiming one-third of television viewing time. In November 2022, this figure rose to 38.5% (link resides outside IBM). eMarketer has also estimated that by 2024, the number of these households will grow even further, reaching 46.6 million resulting in more than a third of all U.S. households no longer having pay-TV. Although streaming does represent a large margin of all television views, it’s important to remember that the market still consumes other forms of TV. In November (link resides outside IBM), broadcast represented 25.7% of viewing time, while cable accounted for 31.8%
Broadcasters must adapt to these changes to stay relevant. Identifying the key changes and emerging trends in broadcasting will help those in the industry determine how to adjust their media strategies, what tactics will most likely lead to success and how to better prepare for the future.
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