The average global viewer spends 4.4 hours each day watching video and an additional of 28 minutes searching for content to watch, according to new research by TiVo.
The research found that about 90% of households are currently paying for traditional pay TV services, while more than 60% are also subscribing to streaming video services like Netflix, Amazon Prime and Hulu.
In the US, more than 50% of pay TV subscribers have been with their service for four years or more, but more than 10% if those who have subscribed to cable for a year or less said they’re very likely to cut the cord in the next six months.
In Latin America, 50% of all viewing was found to now take place on a digital device other than a TV set. By comparison, in the US some 75% of video consumption still occurs on a TV set.
“Consumers today are acting as their own aggregator, piecing together what they need from a variety of video service and device combinations to suit their individual needs,” said Paul Stathacopoulos, vice president, strategy, TiVo.
“Success in this new environment will not be about a single content source monopolising the living room, instead it will be about adapting the business model to deliver value, integrated services and personalisation to meet the evolving consumer needs.”
The research findings were based on an online survey, conducted by TiVo, of 8,500 pay TV and OTT subscribers across seven countries in North America, Latin America and Europe. The countries were the US, Mexico, Colombia, Brazil, the UK, France and Germany.