Magnite Research Finds 68% of CTV Viewers Use At Least One Live Streaming TV Service
44% of cable subscribers said they would cancel cable if they could get access to live streamed sports and events
NEW YORK, Feb. 16, 2022 (GLOBE NEWSWIRE) -- (Nasdaq: MGNI), the world’s largest independent omnichannel sell-side advertising platform, released a study titled “CTV Live Streaming: TV’s Next Big Moment” that found broad adoption of live streaming TV among CTV viewers across all age groups.
"Anecdotally, we know that live TV, especially live sports, is unparalleled in its ability to get people engaged and we commissioned this study to better understand how people access and interact with this content," said Sean Buckley, Chief Revenue Officer at Magnite. "One of the findings from this study is that engagement with live content extends to the advertising that airs alongside it. With more audiences tuning into live TV via streaming, it’s another indicator that advertisers should be actively exploring this channel.”
Awareness around live streaming likely to increase adoption
While 22% of cable subscribers that were surveyed in the study said they plan to cancel their cable within the next six months, 44% said they would cancel cable if they could access live sports and events through streaming. The responses show that greater awareness and education around live streaming content may spur more cable subscribers to adopt streaming services in place of or in addition to their existing cable service.
Advertising is a key part of the live sports viewing experience
Compared to the overall sample, people who stream live sports showed higher levels of engagement with TV advertising. Nearly half of live sports streamers (49%) agreed with the statement ”TV ads are an important part of my TV watching experience” and 62% of live sports streamers said they had discovered new products as a result of watching ads on streaming services.
“CTV is a premium viewing experience with highly engaged audiences that can’t be reached via traditional linear and pay TV,” said Diana Horowitz, SVP, Advertising Sales at fuboTV. “Historically live sports kept audiences tied to their cable subscriptions. That’s no longer the case with live sports including marquee events and regional sports networks widely available on CTV platforms like fuboTV. In fact, 90% of our viewers watch fuboTV live and 93% of sports content on fuboTV is viewed live.”
Additional key findings include:
- Live sports streamers are likely to watch multiple ad-supported services with an average of 3.6 sports apps
- Sports fans prefer to watch live over watching on demand – 70% of live sports programming is watched in real time
- 67% sports streamers pay more attention to ads that match their lifestyle and interests
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Methodology
Magnite engaged Lucid (A Cint Group Company), a global market research provider, to conduct this study. The survey was fielded online within the United States from December 23-December 30, 2021 among 1,500 US adults between the ages of 18 and 64 who watch at least 7 hours of television per week. Unless otherwise specified, all references to groups (U.S. households, Total Adults, or Total Streamers) refer to respondents who participated in the study.
About Magnite
We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising platform. Publishers use our technology to monetize their content across all screens and formats including CTV, online video, display, and audio. The world's leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in bustling New York City, sunny Los Angeles, mile high Denver, historic London, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.
Contacts
Kar Yi Lim
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