Just over half of U.S. and U.K. consumers surveyed by Limelight Networks for its fourth semi-annual “State of Online Video” report said their weekly online video viewing exceeds two hours.
Released Dec. 14, the report reveals that online video viewing is highest among males and Millennials — 58 and 68 percent, respectively. That reinforces similar findings from previous market research studies. In contrast, just 45 percent of females said their weekly online video viewing exceeds two hours, Limelight highlights in a news release.
Moving on, TV shows were the most popular type of online video content. Original content/YouTube videos and movies followed closely behind. While Millennials prefer watching TV shows and movies online people over 60 primarily watch original content/YouTube and news.
“Consumers – in particular younger generations – are increasingly turning to online streaming to access video content,” said Michael Milligan, senior director at Limelight Networks. “As adoption continues on mobile devices, expectations are for high-quality video anywhere, any time, on any device.”
Cord Cutting Trends
Delving into the factors that influence viewers’ decision to keep or cut the cord on their traditional pay-TV services, Limelight found that rising prices were the biggest influence for just over 4 in 10 respondents (41%). About 1/4 (24%) said they would cut the cord when they could subscribe directly to the channels they want online.
Furthermore, the ability to watch and other live events was particularly important for Millennial males. Twenty percent said they would not cut the cord until online video services offer more live sports and events. That compares to just 8 percent for the population as a whole.
Other key report takeaways include:
- Americans are far more likely to pay for online streaming than British viewers: More than 68 percent of U.S. respondents subscribe to a video on demand service, with 34 percent subscribing to more than one service. Less than half (48 percent) of U.K. respondents subscribe to an online video service, with only 16 percent subscribing to multiple services. In the U.S. people are far more likely to use a streaming device, with 72 percent doing so compared to 65 percent of the respondents in the U.K.
- Smartphones continue to grow in popularity for online viewing: Although a computer or laptop remains the most common device for online video viewing, their use has been shrinking while smartphone usage continues to grow. For Millennials, smartphones are already the primary device for watching online video.
- Consumers expect a high-quality online video experience and are frustrated with buffering: More than half of consumers think buffering is the most frustrating aspect of watching online video. Nearly half of respondents (46 percent) will stop watching a video after the second time it buffers, and 78 percent will stop if it buffers three times.
OTT video streaming is the new norm for young adults, Horowitz concluded in market research released in May. Aged 18-34, Millennials surveyed by Horowitz said streaming accounts for more than half (54%) of the time they spend viewing TV content. Watching ¨live¨ TV programming accounted for 25% of Millennials’ TV viewing time.
