Almost half of US adults have already cut the cord, according to a new report.
A new study carried out by The Trade Desk has found that 47% of US TV viewers are already cordless while 44% with cable intend on pulling back or cutting their service altogether in the coming year.
The shift towards OTT consumption is predictably driven by younger viewers, though the trend is creeping upwards. The report notes that 60% of adults aged 18-34 already are without cable, dropping to 53% of those aged 35-54.
The report also noted that streaming is also becoming a much more popular option for sports fans. Only 19% of TV viewers have said that they are returning to their pre-pandemic sports viewing habits, while 44% who watch sports are choosing a primary viewing source outside of linear TV. That number increases to 65% among sports viewers aged 18 to 34.
Tim Sims, Chief Revenue Officer, The Trade Desk, said: “We are entering a new TV normal, where new streaming viewing models sit side by side with traditional TV formats. From an advertiser’s perspective, this shift presents a tremendous opportunity. They can reach those streaming TV viewers with more precision and accuracy than ever because they can apply data to those TV campaigns in a way that’s not possible with linear. So, it provides incremental reach that’s an important element of a comprehensive TV ad campaign.”
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